Luxembourg, 11/07/2007 (Agence Europe) - The European Investment Bank (EIB) is lending CZK 3 billion (approx. €107 million) to the Olomouc Region, Central Moravia, for co-financing projects supported by EU Structural and Cohesion Funds over the period 2007-2013.
The new EIB loan will contribute to the co-financing of regional projects included in the operational programmes qualified for EU grant support under 2007-13 Structural and Cohesion Funds for the period in question. EIB funds will be made available to the region in a timely way and allow an early start for project implementation. According to the EIB, this will help to accelerate the whole Regional Operational Programme of Central Moravia, in particular in the areas of local transport infrastructure, improvement of public administration services, environmental protection and energy saving and efficient usage of energy resources. The new loan is a continuation of the successful cooperation between the EIB and the Olomouc Region, to which the Bank granted a loan of CZK 900 million in 2005 for upgrading the local road network. (ol)