NRB receives EUR 50 million from the CEB to support infrastructure development

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The National Development Bank (NRB) and the Council of Europe Development Bank (CEB) signed a framework loan agreement worth EUR 50 million. Thus, it has secured additional resources to finance infrastructure projects aimed at improving the environment and living conditions in urban as well as in rural areas. The funds are dedicated for the public sector as well as for enterprises or mixed entities.

The financial resources that NRB will obtain from CEB will be used to provide preferential loans. “Such financing will be available to regions, cities and municipalities, nad to private sector for the construction and modernisation of key public and private infrastructure in the Czech Republic,” says Jiří Jirásek, Chairman of the Board of the NRB, adding: “The funds will be available to finance infrastructure such as the development and maintenance of the road network, public transport, public lighting, district heating, community services, educational and health facilities, social and affordable housing, cultural and sports facilities the development of industrial sites or environmental protection.”

 “The Bank’s main tasks is to support the development of social infrastructure in its member countries and to contribute to the protection of the environment. We are very pleased that the Czech Republic has decided to follow a similar path and that the NRB has become a partner in fulfilling our goals”, says Tomáš Boček, Vice-Governor of the Council of Europe Development Bank.

Beside supporting businesses, the National Development Bank is also becoming a key partner for public and private infrastructure financing. Earlier this year, the NRB received CZK 5 billion from the European Investment Bank for the infrastructure development. Now it has increased the volume of available funds by additional CZK 1 billion. “Securing sufficient resources to provide preferential funding is crucial for us, especially if we want to support infrastructure investments in the country. Already this year we have managed to provide more than CZK 1 billion to the public sector, which I consider a promising start in fulfilling our mission,” concludes Jiří Jirásek.

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