Czech Finance Minister and EIB Governor Stanjura meets EIB leadership in Luxembourg
16 June 2022
The Finance Minister of the Czech Republic Zbyněk Stanjura made his first visit today to the Luxembourg headquarters of the European Investment Bank Group since taking office in December 2021. Minister Stanjura, who is also a governor of the EIB, met EIB President Werner Hoyer todiscuss EIB operations in the country, cooperation on the priorities of the Czech Presidency of the Council of the European Union, mitigation of the social and economic effects of the Russian invasion of Ukraine on EU Member States, and the role of EIB Global in the post-war reconstruction of Ukraine.
During his visit, Minister Stanjura also met EIB Vice-President Lilyana Pavlova, who is in charge of EIB operations in the Czech Republic, Jean-Christophe Laloux, Director General for Operations, Markus Berndt, Acting Managing Director of EIB Global, and the senior management of the EIB.
EIB President Werner Hoyer said: “It was a great pleasure to welcome the Czech Finance Minister and our Governor Zbyněk Stanjura here at the EIB headquarters. The support we continue to receive from our Czech partners is very important to us, as it empowers the EIB to be even more successful in delivering effective solutions for major economic and social challenges facing the European Union and the world today — climate action, the economic recovery from COVID-19 and the effects of the war in Ukraine. The EIB wants to remain a reliable partner the Czech Republic can count on, and we look forward to working together with the Czech Presidency of the European Union,expanding this partnership and supporting EU priorities, especially the reconstruction efforts in Ukraine and the development of an affordable and clean alternative to Russian gas and oil.”
"Today, we mainly discussed the EIB’s planned investment activities and our mutual cooperation during the Czech Presidency of the Council of the EU. The tasks ahead of us are the Ukrainian refugee crisis, energy security and the financing of European defence infrastructure. As for EIB investments in the Czech Republic, we debated financing social and affordable housing, investments in railway transportation or the Dukovany-Brno hot water pipeline,” says Czech Minister of Finance Zbyněk Stanjura.
Together with all 27 EU Member States, the Czech Republic is also a shareholder of the European Investment Bank.
Three decades of EIB support for social and economic development in the Czech Republic, with over €24 billion invested in the country
The EIB has been accelerating the social and economic development of the Czech Republic since 1993, with over €24 billion invested in all key sectors of the national economy. In 2021 alone, the EIB Group, consisting of the European Investment Bank (EIB) and European Investment Fund (EIF), invested €1.19 billion in the Czech Republic. The EIB investments boosted regional development, accelerated the recovery of small and medium enterprises (SMEs) and mid-caps, and supported climate action by financing the stability and efficiency of the country’s energy supply.
EIB Vice-President Lilyana Pavlova expressed the readiness of the EIB to continue supporting the Czech Republic in accelerating its green economic recovery from COVID-19, boosting innovation, delivering more climate action projects, decoupling the local economy from fossil fuels, and tackling major social and economic challenges stemming from the war in Ukraine.
Vice-President Lilyana Pavlova said: “I am very glad to see that the Czech Republic and the EIB share a vision of a green and sustainable European Union. The EIB is a Czech bank too, and we are determined to support the most urgent and strategic needs of the Czech Republic and contribute to the country’s long-term green and sustainable development. This includes mitigating the effects of the Russian invasion of Ukraine, especially by helping countries host and integrate war refugees. We also want to cooperate on projects that improve energy security and deliver affordable housing. The EIB will continue to listen and respond to the needs of the Czech Republic and advance Czech interests for economic growth and people’s well-being.”
EIB to cooperate with the Czech Republic on post-war reconstruction of Ukraine
Acting Managing Director of EIB Global Markus Berndt outlined the EIB’s rapid response to support the countries most impacted by the war in Ukraine and confirmed that EIB Global stands ready to support the reconstruction of a free and democratic Ukraine the moment the invasion ends.
In May 2022, the EIB approved a €4 billion credit line (or programme loan) to help national authorities, cities, regions and local communities in all EU Member States address urgent investment needs and help welcome and integrate people fleeing the war against Ukraine.
EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
Europe as a task: Rethink, rebuild, repower
The Czech Republic will take over the Presidency of the Council of the European Union on 1 July 2022 under the official motto “Europe as a task: rethink, rebuild, repower.” During its presidency, the Czech Republic will focus on five priorities: management of the refugee crisis and Ukraine’s post-war recovery, energy security, strengthening Europe’s defence capabilities and cyberspace security, and strategic resilience of the European economy, including the resilience of democratic institutions.
The European Investment Bank (EIB), the bank of the European Union, will extend its ongoing support for the modernisation of Czech national railways and provide advisory assistance to Správa železnic, s.o (SŽ), the national railway administration of the Czech Republic. The EIB will support SŽ in the development of a methodology and tools for assessing the suitability of public-private partnerships for delivering rail infrastructure projects in the country. EIB and the Czech railways authority signed the advisory agreement in Prague on 24 March.
The EIB became a full member of the Association for Infrastructure Development (ARI) as of March 2021, z.s. It will include a strenghtened cooperation on events and communication activities and will be an opportunity for the EIB to interact more closely and share its expertise with other ARI members within the infrastructure financing working group, notably in the fields of infrastructure and PPP projects and regarding the implementation of the European Green Deal.
The EIB, represented by Vice-Presidents Lilyana Pavlova and Ambroise Fayolle as well as the Head of the EIB Prague Office Nathalie Binet, and Andrea Ferjencikova, joined the Prague European Summit 2020 on 18 and 19 November to discuss with Czech and European partners common responses to current and future challenges for the European Union, such as climate change and the post-pandemic recovery.