EIB: EUR 37.5 mln for projects in Czech Republic
Luxembourg, Luxemburg – The European Investment Bank (EIB) is providing a EUR 37.5 million Global Loan to Komerční Banka, a.s., for investment projects of small and medium sized enterprises and municipalities in the Czech Republic.
The loan will co-finance small and medium sized municipal projects in the field of energy and energy savings, environmental protection, transport infrastructure, together with sectors like health, education, urban renewal and social housing. Tourism and services as well as projects supporting the knowledge-based society will also be funded by the loan. EIB is providing Komerční Banka with long term funds particularly suited for these purposes.
The loan is the first Global Loan extended by the Bank to Komerční Banka that is of one of the major Czech commercial banks and has an extensive knowledge of the local market particularly through its strong branch network in the country. It is adding one more bank to the twelve that are already on-lending EIB funds in the Czech Republic to finance smaller projects with investment cost of up to EUR 25 million.
The part of the loan that will support Czech municipalities will focus on regions bordering to Germany and Austria eligible to the Municipal Infrastructure Facility. This scheme is subsidised by EU grants under the Phare Programme.