The European Investment Bank (EIB) is lending CZK 500 million (approx. EUR 19 million) to the Vysočina Region (south-east Czech Republic) to improve regional infrastructure and upgrade the local road network.
Long-term EIB funds, provided on favourable terms at a time of difficult market conditions, will help the Vysočina Region to implement priority regional investments with a focus on increasing people’s quality of life and strengthening the region’s competitiveness. Some of the investments will also be supported by EU Structural and Cohesion Funds.
The undertakings to be financed by the EIB loan include the modernisation of Jihlava’s Urgent and Intensive Medical Care Facility, completion of the Mother and Child Facility at Trebíč Hospital, upgrading of the Secondary Comprehensive School in Chotěboř, and rehabilitation of the road bridge in Havlíčkův Brod.
This is the second tranche of the EIB loan approved in 2006. The first EIB loan to the Region of CZK 500 million financed rehabilitation works on Vysočina’s Class II and III road network.
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.
The EIB supports the development of Czech regions and municipalities by improving their access to long-term finance provided on favourable terms. Since 2005, the Bank has provided loans to seven Czech Regions and six cities beside the capital Prague amounting to some EUR 1.1 billion, including the current loan.