EIB helping Czech Republic to modernise Local Railway Networks

ongoing

European Investment Bank (EIB), the bank of the European Union, and the Government of the Czech Republic agreed to accelerate cooperation on upgrading the national railroad network and increase the role of railroad in the national transport network. Transition to railroad transport of people and goods will allow Czech Republic to cut greenhouse gas emissions, reduce pollution, and modernize national transport sector and offer green, more reliable, safer, and more accessible alternatives to citizens and businesses alike. Under the Memorandum of Understanding between the EIB and the Government of the Czech Republic signed today in Prague, partners will work towards the optimal model of engagement for the EIB in the modernization of the local railroad networks. The EIB and the Government will join forces to ensure the effective, efficient, and timely preparation and implementation of rail infrastructure projects under the national “Unified Railway Framework” executed by Ministries of Transport, and Finance, with advisory support for project preparation and long-term financial support for implementation of the projects.