VUKOVAR, May 23 (Hina) - Croatian Finance Minister Ivan Suker and theGovernor of the Council of Europe's Development Bank (CEB), RaphaelAlomar, signed in Vukovar on Monday an agreement on a loan to financea project for the research,
reconstruction and revitalisation of thecultural heritage of Ilok, Vukovar and the archeological site ofVucedol near Vukovar, drawn up by the Croatian Culture Ministry.
VUKOVAR, May 23 (Hina) - Croatian Finance Minister Ivan Suker and
the Governor of the Council of Europe's Development Bank (CEB), Raphael Alomar,
signed in Vukovar on Monday an agreement on a loan to finance a project for
the research, reconstruction and revitalisation of the cultural heritage of
Ilok, Vukovar and the archeological site of Vucedol near Vukovar, drawn up by
the Croatian Culture Ministry. Minister Suker said the four-year
project amounted to 266.2 million kuna.
The loan, which covers 169.7 million kuna of the project's value, is to
be repaid in 15 years, with a five year grace and an interest rate of 3.59
percent. The remaining 57 million will be provided by the Croatian
government.
Suker recalled that Croatia joined the CEB in 1997, since when it has
signed agreements on 11 long-term loans worth 1.8 billion kuna.
The loans are intended for the return of displaced people and refugees,
the reconstruction and construction of schools, the modernisation of health
institutions, the improvement of living conditions on islands, and the
restoration of the cultural heritage, Suker said.
(1EUR = 7.3 kuna)