EIB Increases Support for Czech Republic with €2.47 Billion Investment in Key Infrastructure and SMEs
(IN BRIEF) The European Investment Bank (EIB) has significantly increased its financing in the Czech Republic, rising to €2.47 billion in 2024. This marks a 33% growth from 2023, with key investments in infrastructure, the railway and energy sectors, and support for small and medium-sized businesses. The funding has supported large-scale projects such as upgrading the Czech railway network and strengthening the electricity grid, with the aim of boosting sustainability and creating jobs. EIB financing has also led to nearly €9 billion in total funding for the Czech Republic since 2020, with an ongoing focus on sustainable growth and economic development.
(PRESS RELEASE) LUXEMBOURG, 6-Feb-2025 — /EuropaWire/ — The European Investment Bank (EIB) Group has reported a substantial increase in financing in the Czech Republic, reaching €2.47 billion in 2024, up from €1.86 billion the previous year. This growth highlights the bank’s intensified support for critical sectors such as the railway and energy industries, as well as its contributions to small and medium-sized enterprises (SMEs). Of this total, €2.34 billion came from the EIB, while €190 million was provided by the European Investment Fund (EIF), which focuses on micro and small businesses. Additionally, €60 million stemmed from joint efforts between the EIB and EIF.
The EIB’s increased financing supports key initiatives aimed at modernizing Czech infrastructure, promoting sustainable energy, and fostering economic growth. Notable achievements include projects aimed at improving train travel safety and speed, integrating green energy into the national grid, and boosting the development of SMEs, which are essential for job creation. This marks the third consecutive year of growth in the EIB’s funding in the country.
EIB Vice-President Kyriacos Kakouris emphasized the EIB’s commitment to the Czech Republic’s economic transformation, focusing on decarbonizing industry, deploying renewable energy, enhancing energy efficiency, and ensuring a just transition for all. In total, EIB Group funding in the Czech Republic since 2020 has reached almost €9 billion, with last year’s financing supporting the creation of nearly 89,000 jobs in the country.
Key projects funded by the EIB include a €527 million loan to the Czech government to strengthen its railway network, a €300 million loan to Czech Railways for train upgrades, and a €400 million loan to ČEZ to support the country’s electricity grid. EIB also significantly boosted support for Czech SMEs, providing €866 million in financing through banks and leasing companies, marking an 83% increase over the previous year. Noteworthy investments include €90 million for e-grocery giant Rohlik and €30 million for the Czech software firm Y Soft.
In addition to these efforts, the EIF’s €190 million in equity, inclusive finance, and guarantees are expected to further unlock investments for Czech businesses. The EIB’s ongoing work with Czech authorities on affordable housing and other strategic infrastructure investments also underscores the bank’s commitment to long-term economic growth and sustainability.
Since its establishment, the EIB Group’s total financing in the Czech Republic has amounted to approximately €29.4 billion, demonstrating its pivotal role in the country’s development and its ongoing support for sustainable growth.
Background information:
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives by bolstering digitalisation and technological innovation, security and defence, agriculture and bioeconomy, social infrastructure, high-impact investments outside the EU, and the Capital Markets Union. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 projects in 2024. These commitments are expected to mobilise around €350 billion in investment, supporting 400 000 companies and 5.8 million jobs. As for the Czech Republic, the EIB Group signed operations worth a total of €2.47 billion last year.
All projects financed by the EIB Group are in line with the Paris Climate Accord and the EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.
Media Contact:
Katarina Karmazinova
k.karmazinova@ext.eib.org
+352 4379 – 70217
Press Office
press@eib.org
+352 43791
SOURCE: European Investment Bank
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