EIB long-term funds, provided on favourable terms at a time of difficult market conditions, will help Olomouc to finance projects implementing the city’s Strategic Development Plan for 2007-2013, enhancing the quality of life of citizens and strengthening the city’s competitiveness. Some projects will be supported by EU Structural and Cohesion Funds.
The projects to be financed by the EIB loan include the reconstruction of the railway station plaza, purchase of easy access trams and buses, reconstruction of parts of the flora exhibition area, and the implementation of energy-saving measures at the city’s elementary and nursery schools.
This is the first EIB loan provided to the City of Olomouc. The Bank has previously granted two loans to the Olomouc Region amounting to CZK 3.9 billion. These funds co-financed projects in the areas of local transport infrastructure, public administration services, environmental protection and energy savings and efficient use of energy resources.
Background:
The EIB, the European Union’s long-term financing institution, finances economically viable investment projects that contribute towards the integration, balanced development and economic and social cohesion of the EU Member States. Since 1990 the EIB’s lending in the Czech Republic has reached some EUR 10.7 billion.
Since 2005, the Bank has provided loans to four cities beside the capital Prague, including the current loan to Olomouc, and to seven Czech Regions.