The European Investment Bank (EIB) will lend Czechia 13 billion crowns (526 million euros) for the modernisation of the country’s rail infrastructure. The money will be used to increase both freight and passenger capacity, as well as to strengthen the three TEN-T lines on Czech territory.
Apart from a multitude of exclusively passenger-related projects, the funding will be used to implement the safety and capacity enhancing system ERTMS throughout the country. The Czech finance ministry also stresses that the funding will help to improve the three TEN-T corridors running through the country.
Moreover, the money will go to infrastructure projects aimed at improving or eliminating railway crossings. In turn, it should reduce the number of accidents by 180 annually and prevent dozens of deaths.
“Rail is among the most energy-efficient modes of transport for freight and passengers and we need more of it”, says EIB vice-president Kyriacos Kakouris. “But if we want people and companies to choose rail over roads, we need to make our trains safer, greener and more reliable. Our financing for the Czech railway system has a dual benefit – it will render the transport options in the country more sustainable and it will support regional development in EU areas with lower economic activity.”
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