EIB to loan Czechia CZK 11.5 bn crowns to modernise railways

The Czech Republic plans to borrow 11.5 billion crowns from the European Investment Bank (EIB) to modernise eight railway corridors.

The government will and allocate the same amount towards the project from the national budget. The exact amount of the EIB loan, which will be dispersed in tranches from 2019 through 2025, has not been set.

In total, the State Fund for Transport Infrastructure plans on allocating some 86 billion crowns towards improving the country’s infrastructure next year, with 20.8 billion crowns coming from EU programmes.