The country will be able to obtain seven billion euros in funding to improve rail infrastructure
The Czech government has signed a memorandum with the European Investment Bank (EIB), through which Czech Republic has the possibility to access financing for rail infrastructure development. Following acceptance of the memorandum, a loan agreement is scheduled to be signed between the Czech Finance Minister and the state transport infrastructure fund. In addition, EIB Vice President Lilyana Pavlova said how “this memorandum underscores the role of the EIB as a reliable partner that the Czech Republic can continue to rely on to build a sustainable and green future for its citizens.”
The financial support consists of seven billion euros for railway projects between 2023 and 2027. “The money should be allocated for investments in digitization and automation of rail transport, electrification of railway lines, and support for regional transport,” says Finance Minister Zbyněk Stanjura. The first billion tranche could arrive as early as next year.
Some of the projects in mind are to electrify infrastructure and make trains functional with zero carbon monoxide emissions, as well as investments in digitization and automation with the aim of optimizing the use of railway capacity while improving safety.
Sources: https://www.camic.cz/ ; https://mdcr.cz/
Sources of images: https://pixabay.com/ ; https://storyset.com/
