LUXEMBOURG: CRO PM HOLDS TALKS WITH EIB DIRECTOR

LUXEMBOURG, Oct 30 (Hina) - A Croatian delegation, led by Prime Minister Ivica Racan, held talks with the director of the European Investment Bank (EIB), Philippe Maystadt, in Luxembourg on Tuesday. After the talks, Croatian Finance Minister Mato Crkvenac told reporters they tackled the expansion of cooperation with the EIB regarding loans earmarked for the Zagreb-Split highway. As soon as a feasibility study on the Zagreb-Split highway is completed, it will be forwarded to the EIB, Crkvenac told reporters. He said that a EUR60 million loan the EIB has earmarked for the reconstruction and modernisation of 450 kilometres of highways in Croatia, on which an agreement was signed on Monday, would be used for the Adriatic and Podravina highways. According to the Finance Minister, the EIB is ready to cooperate with Croatia in the reconstruction of refineries, the building of infrastructure and employment. The EIB is granting most favourable loans with lowest interest rates and longest payment period. EIB president Ewald Novotny said Monday the bank was ready to finance various development projects in Croatia with EUR650 million until 2003. (hina) it