EIB lending CZK 2 billion to implement investment programme in Pardubice region

Together with EU grants, the EIB loan will support investments amounting to €223 million, particularly in the transport (45% of the total), healthcare (37%), and culture (9%) sectors, and in the areas of education and energy efficiency (9%).

The European Investment Bank (EIB) is lending CZK 2 billion (some €79.3 million) to the Pardubice Region, located in Eastern Bohemia, to finance the implementation of its investment programme. Together with EU grants, the EIB loan will support investments amounting to €223 million, particularly in the transport (45% of the total), healthcare (37%), and culture (9%) sectors, and in the areas of education and energy efficiency (9%).

The investments will help to upgrade the quality and safety of regional roads, which have seen persistent under-investment over a number of years. They will also contribute to comprehensively renovating key public buildings (for health and social care, education, culture and administration), which suffer from either physical obsolescence, low energy efficiency standards or a lack of adequate equipment.

"The EU bank's support for intra-regional connectivity, road safety and healthcare in the region will contribute substantially to better living standards and competitiveness", said EIB Vice-President Lilyana Pavlova. "In light of the COVID-19 crisis, we are pleased to be able to dedicate more than a third of the financing under this new operation with the Pardubice Region to a healthcare infrastructure upgrade. We also welcome plans to modernise public facilities for culture and education, which are in line with EU's regional development and cohesion policy priorities."

"We have been de facto advocating the adoption of a CZK 2 billion framework agreement with the EIB since 2016, regardless of the current coronavirus crisis. If we want to maintain investment activity in the future and thus help the Czech economy, then it is necessary to adopt this credit framework. The projects that will benefit from this loan include the construction of a central emergency reception Pavillion in Pardubice hospital, the construction of a new building for the aftercare hospital in Moravská Třebová, the modernisation of Winternitz's automatic mills and projects for the reconstruction of lower-class roads. In this case, it is not possible to use subsidies from the Integrated Regional Operational Programme or the State Fund for Transport Infrastructure," stated Regional President Martin Netolický.

The current loan is a continuation of the EIB's very fruitful long-term relationship with the Pardubice Region, which has been reconfirmed by this fourth operation. It brings the total amount of EIB loans financing the upgrade of Pardubice's regional infrastructure to almost CZK 5.5 billion (some €202 million) in 13 years.