The European Investment Bank (EIB) has signed a loan agreement worth €992 million (CZK 24 billion) with the Czech Ministry of Finance to support the modernisation of the national railway network. The loan, which will be channelled through infrastructure manager SZ, will support the modernisation and retrofitting of lines on the country's TEN-T trans-European network and enable the introduction of the European Rail Traffic Management System (ERTMS). This project is the first specific financing outcome of the Memorandum of Understanding (MoU) signed in November 2022 between the two ministries and the EIB to finance the modernisation of the Czech railway network. As part of the extensive programme that the EIB financing will support, SZ plans to improve safety at level crossings, retrofit maintenance vehicles with ERTMS equipment and strengthen the company's cyber security. The investment also includes work on stations and railway structures to improve their accessibility for people with reduced mobility and travellers with children. The modernisation of the railway lines will increase both maximum speeds and capacity on sections of the TEN-T network.
