Brussels, 09/12/2009 (Agence Europe) - On Tuesday 8 December, the European Investment Bank (EIB) announced that it was to lend 2 billion Czech koruna (CZK - around 73 million euros) to the city of Pilsen (Western Bohemia) to support priority objectives for urban redevelopment, as defined in the 2004 development plan of the city.
The intervention of the EIB, which is associated with subsidies under the Structural Funds of the EU, will help to implement major investments to reinforce the competitiveness of the city of Pilsen and increase the quality of life of its inhabitants. More specifically, the loan will help to co-fund small and medium-sized projects to improve, refurbish, modernise and extend the city's infrastructure and equipment. The EIB's money will benefit public transport, environmental protection, water distribution and the processing of waste water, education and cultural heritage.
The EIB will, for example, support projects relating to Pilsen's bid to become the European capital of culture for 2015. The emphasis will be on projects of major importance which will help to revitalise the city centre, as part of work to renovate the Struncovy park, where the two main water courses of the city converge, and to complete the municipal water management network.
This is the second time the EIB has granted a loan of the city of Pilsen. The first, for 30 million euros, was the subject of two contracts signed on 1 July 2005 and 3 November 2008 respectively, which went towards improvements to the water management and waste water treatment sector. (O.L./trans.fl)