Czech Republic and EIB sign a Memorandum on financing railway infrastructure construction

The European Investment Bank (EIB) signed a loan agreement with the Ministry of Finance of the Czech Republic in the amount of CZK 13 billion (EUR 527 million) for extensive modernisation of the railway network. The loan is part of an EIB operation worth CZK 48.8 billion (EUR 2 billion), intended for increasing the capacity of Czech freight and passenger rail transport while ensuring greater safety and comfort. The funding shall improve rail lines across the country and strengthen the Trans-European Transport Network (TEN-T) by building three main corridors across the country.