EIB supports extension of Prague’s metro network
Posted: 19 December 2011 | European Investment Bank (EIB) | No comments yet
The EIB is lending EUR 350 million for the extension of the Prague Metro Line A…
The European Investment Bank (EIB) is lending CZK 8.5 billion (some EUR 350 million) for the extension of the Prague Metro Line A in the north-west of the Czech capital.
The extension of the metro network is one of the key infrastructure projects currently being carried out by the City of Prague. It will help to improve the accessibility of public transport and increase transport safety, comfort and capacity. The extended line will provide access at several points to other public transport modes (buses, trams) and park & ride facilities. As a result, it will contribute to creating a better quality of life not only for Prague’s citizens but also for thousands of commuters travelling to work every day in the city. Furthermore, enhancing the attractiveness of the public transport system and reducing the use of private cars and the resulting congestion of surface traffic will have positive impacts on Prague’s urban environment.
The EIB loan will finance a 6.1 km double-track extension of one of the three lines of the Prague Metropolitan network, from the current end-station Dejvická in the north-west part of the city, under the westbound Evropská avenue, and then south-westwards to the Motol Hospital area. Motol Hospital, one of the most important medical facilities in Prague and the country as a whole, will greatly benefit from this direct and fast public transport link. The extension will include the construction of four new stations.
The loan represents a new step in the successful cooperation with the City of Prague. The Bank has previously extended four loans to the capital city contributing to the financing of its investment programmes, including extensions of the city’s metro network, upgrading of water distribution and sewerage infrastructure and rehabilitation of municipal infrastructure after the devastating floods in 2002. As a result the Bank is an important financial partner of the City, providing much needed long-term funds even during times of economic hardship.