Shorouk Express
BAKU, Azerbaijan, February 6. The European
Investment Bank (EIB) has approved a 466 million euro loan to the
Czech Republic to upgrade vital railway lines across the country,
Trend reports.
The financing will support the modernization of rail routes that
are part of the Trans-European Transport Network (TEN-T), linking
the Czech Republic with neighboring countries such as Austria and
Poland.
The loan will be directed to Správa železnic, the Czech national
railway infrastructure administrator, to fund improvements,
including the implementation of the European Rail Traffic
Management System (ERTMS) on rail lines, retrofitting maintenance
vehicles with ERTMS technology, and enhancing level crossings for
improved safety.
This new loan is part of a broader 1 billion euro package
allocated by the EIB in 2023 for rail upgrades across the Czech
Republic. The initiative aims to improve rail safety and speed
while encouraging a shift from road transport, aligning with the
EU’s environmental goals to reduce emissions.
The upgrades, scheduled for completion by 2028, include
approximately 40 projects nationwide, reflecting the EU’s efforts
to enhance regional cohesion and tackle climate change. These
developments will also support the EU’s goal of achieving climate
neutrality by 2050.
The EIB loan also backs the reconstruction of eight railway
stations in Czech coal regions, which will be funded in part by the
European Commission under the Just Transition Mechanism. These
improvements will enhance passenger comfort and safety while
promoting local economic revitalization.
