EIB will provide CR with EUR 7bn for railways

Published: 11.11.2022 Related countries:  Czech Republic Czech Republic

European Investment Bank supports financially building of Czech highspeed rail network.

The Czech Republic signed a Memorandum of Understanding with the European Investment Bank (EIB) on financing the construction of railway infrastructure. The EIB's financial and technical support will focus on railway projects between 2023 and 2027, up to EUR 7bn. Transport Minister Martin Kupka (ODS) justified this by the fact that the need for investment in transport infrastructure exceeds the current possibilities of the state budget, and added that the Memorandum was concluded with a view to long-term cooperation with the EIB due to the upcoming construction of the Czech highspeed rail network. The first CZK 25bn is to be drawn next year. 

Compiled by the team of CzechTrade office in Latvia (Lithuania, Estonia).
Source: ČIA NEWS