Luxembourg, 19/12/2007 (Agence Europe) - The European Investment Bank (EIB) is to lend CZK 14 billion (approx €530 million) to finance priority transport projects covered by the Operational Programme for Transport of the Czech National Strategic Reference Framework for the period 2007-2013.
The projects supported will meet the highest transport priorities of the Czech government as endorsed by the EU Commission in the recently approved Operational Programme for Transport. The majority of the rail and road projects to be financed are located on the European priority transport axes (TEN-T network), being of key importance for the development of transport infrastructure in the Czech Republic and improvement of the interconnection with neighbouring EU member states.
Some 45% of the Operational Programme for Transport will target railways, including substantial modernisation and upgrading of the network, as well as the rehabilitation of certain sections. Railway projects on Czech corridors III and IV radiating from Prague in the direction of Linz and Nuremberg are expected to be supported from the Bank's loan. They essentially constitute a continuation of similar line upgrading and modernisation started with the Bank's co-financing on Czech corridors I and II, Berlin-Prague-Brno-Vienna and Warsaw-Katowice-Ostrava-Vienna.
In the road sector, the main new constructions on the motorway and expressway networks include certain sections of the R1 (Prague Ring Road), the R6 and R7 expressways, as well as the D1, D5, D11 and other motorways. Some sections of these highways have already been financed by the Bank. The upgrading of several sections of Class I roads throughout the country is also expected to be undertaken.
According to the EIB: “The upgraded transport infrastructure will help the Czech Republic to cope with the increasing traffic levels since EU accession and deepen integration with the EU single market”. (O.L.)