The European Investment Bank (EIB) is lending CZK 1 billion (approx. EUR 37 million) to finance the development of municipal infrastructure in Ostrava, the third largest city of the Czech Republic located in Northern Moravia.

The EIB loan will support investments under the city’s long-term Strategic Development Plan in the period 2014-2019. Such investments are expected to entail small and medium-sized projects focused on the upgrading and extension of urban infrastructure and undertakings related to environmental protection, water and sanitation, health, education, social and cultural facilities.

Urban development is one of the EIB’s key investment priorities. Funds provided by the Bank on favourable financing terms will enhance the city’s ability to upgrade and extend its infrastructure and thus its attractiveness to its citizens and visitors.

This is the second EIB loan provided to Ostrava. Successful cooperation between the EIB and the Municipality of Ostrava dates back to 2008 when a loan of CZK 3 billion was signed to implement Ostrava’s capital investment programme through investments in public transport, environmental protection, sewerage, education, cultural heritage and community services.