The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
EIB funds, combined with EU Structural Funds, will help to implement important investments geared towards strengthening the city’s competitiveness and increasing the quality of life of Plzen’s citizens.
The loan will co-finance mostly small and medium-sized sub-projects that will improve, rehabilitate, upgrade and extend municipal infrastructure and facilities. Public transport, environmental protection, water distribution and waste water treatment, education and cultural heritage will be the main areas benefiting from EIB finance.
For example, the loan will support sub-projects supporting Plzen’s application regarding the selection of the European Capital of Culture in 2015. In particular the revitalisation of the city centre, further to the creation of the “Struncovy Park” along the confluence of the two rivers, and the completion of the city’s water management system are of prime importance.
This is the second loan provided by the Bank to the city of Plzen. The first EUR 30 million loan signed in two contracts on 1 July 2005 and on 3 November 2008, part-financed sub-projects in the field of water and waste water management.
Background:
The EIB, the European Union’s bank, 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 11.7 billion.
The EIB supports the development of Czech municipalities and regions by improving their access to long-term finance provided on favourable terms. Since 2005, the Bank has provided loans to six cities beside the capital city of Prague and to seven Czech regions, amounting to some EUR 860 million, including the current loan.
EIB funds, combined with EU Structural Funds, will help to implement important investments geared towards strengthening the city’s competitiveness and increasing the quality of life of Plzen’s citizens.
The loan will co-finance mostly small and medium-sized sub-projects that will improve, rehabilitate, upgrade and extend municipal infrastructure and facilities. Public transport, environmental protection, water distribution and waste water treatment, education and cultural heritage will be the main areas benefiting from EIB finance.
For example, the loan will support sub-projects supporting Plzen’s application regarding the selection of the European Capital of Culture in 2015. In particular the revitalisation of the city centre, further to the creation of the “Struncovy Park” along the confluence of the two rivers, and the completion of the city’s water management system are of prime importance.
This is the second loan provided by the Bank to the city of Plzen. The first EUR 30 million loan signed in two contracts on 1 July 2005 and on 3 November 2008, part-financed sub-projects in the field of water and waste water management.
Background:
The EIB, the European Union’s bank, 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 11.7 billion.
The EIB supports the development of Czech municipalities and regions by improving their access to long-term finance provided on favourable terms. Since 2005, the Bank has provided loans to six cities beside the capital city of Prague and to seven Czech regions, amounting to some EUR 860 million, including the current loan.