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BRUSSELS, Dec. 22 (Xinhua) -- The European Investment Bank (EIB) extended a loan of 250 million euros (261 million U.S. dollars) to support rural development in Slovakia, the bank said in a press release Thursday.

The financing will benefit the priority projects identified under the Slovak rural development program 2014-2020 that receive support from the European agricultural fund for rural development.

The EIB loan will finance projects with a total value of 1.66 billion euros (1.74 billion dollars).

"The EIB loan will help save and create new job opportunities, particularly in the less developed rural areas of Slovakia facing higher unemployment, mainly in the sectors of agri-food production and processing, forestry, rural tourism and services," stated EIB Vice-President Vazil Hudak.

The current loan is the second EIB operation to support the program in Slovakia. In 2014 the EIB signed a loan

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