Slovenia provides 219.4 mln USD credit line to Portugal
2011-05-27 17:28:58
Slovenia announced on Thursday that it will provide 155 million euros (219.4 million U.S. dollars) in credit line to Portugal to help the debt-stressed European country.
The Slovenian government made the announcement after Eurozone finance ministers endorsed a package of financial assistance to Portugal to a sum of 78 billion euros last week.
The interest rate for the loan to Portugal as part of this temporary mechanism will be around six percentage points, according to Slovenian Finance Minister Franc Krizanic.
Slovenia hopes Portugal' s economy will improve following the implementation of its three-year austerity agreement reached with the European Commission, the European Central Bank and the International Monetary Fund, Krizanic said.
Portugal Prime Minister Jose Socrates appealed in early April for emergency international assistance to ease its rapidly worsening financial crisis.