Brussels, 22/09/2003 (Agence Europe) - The European Investment Bank (EIB) on Monday signed a loan of 75 million EUR to fund the building of the extension of Line C of the Czech capital's underground. Prague is investing massively in public transport, said the EIB, with the aim of reducing traffic jams and pollution, and to update its infrastructure to meet European standards. The project will give Line C 4.5km and 3 stations more, from Ladvi to Letnany, in the north-east of the city. This zone is subject to significant demographic growth and economic development, but remains poorly served by public transport.
Since the 1990s, the EIB has lent over 4 billion EUR to the Czech Republic to fund projects related to European integration, out of a total of 21 billion EUR in loans to Central and Eastern Europe.