Slovenia provides 219.4 mln USD credit line to Portugal

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.

Source: Xinhua

	Weekly review     May 20   World Economic Forum China office marks fifth anniversary   May 18   China, Pakistan joined in bonds of brotherhood May 20   'Central axis' of Beijing applies for world cultural heritage May 20   In pictures: Int'l 'Financial Security' symposium opens in Beijing May 21   The week in pictures May 16   Beijing aims for massive influx of overseas talent in 2011 May 16   Singapore election coverage shows Western arrogance May 16   Chinese naval helicopter conducts target practice in Gulf of Aden May 17   Strategies for harmony between militaries of China, US May 17   Pakistani Prime Minister hails China as true friend