EIB: EUR 75 mln for construction of Prague Metro
Luxembourg, Luxemburg – Representatives of the European Investment Bank and the City of Prague signed 2003-09-22 a EUR 75 million loan for construction of the extension of Prague’s metro line C.
Prague is investing massively in its public transport systems with the goal to reduce congestion and pollution, and to modernise its system to reach European standards. The project will extend Prague’s metro line C from Ladvi to Letnany, in the northeast of the City, adding 4.6 km track and 3 stations. This area of Prague is subject of significant demographic and economic development but it is insufficiently served by public transport, with heavy reliance on buses using congested and polluted roads. The first section of the extension of line C to Ladvi was already financed by the EIB and will be completed shortly.
The extended metro line is expected to have a catalytic effect on the economy of the developing areas in the north-east part of Prague, and make the residential quarters in the served areas more attractive. The project will help the Czech Republic to implement EU environmental standards through a significant reduction of pollution due to usage of environmentally friendly transport.