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| EIB lends EUR 85 million for municipal infrastructure in Brno The European Investment Bank (EIB) is lending EUR 85 million for upgrading of the municipal infrastructure of Brno, the second largest city in the Czech Republic. The loan will be used to co-finance small and medium-scale urban development projects which reflect the EIB’s focus on urban renewal and are in line with the priorities set in the medium-term capital investment programme of the City of Brno. The selected projects will be concentrated on rehabilitation and upgrading of the city’s infrastructure, in accordance with the municipality’s “Strategy for the City, 2020”, to promote economic development and urban regeneration. For example, the City of Brno will use the EIB loan to finance the reconstruction of Námestí Svobody (Liberty Square) and the Janáček Theatre, the most important theatre in Brno; the renovation of the New Town Hall; and the reconstruction of the Tugendhat Villa, a UNESCO World Cultural Heritage Site representing one of the most significant architectural masterpieces of the 1920s, as well as the Tuhackova Elementary School. Since 1990 the EIB, as the European Union's long-term financing institution, has provided more than EUR 6 billion for projects furthering economic modernisation and restructuring of the Czech Republic. The loan provided to Brno is the EIB’s third major lending to a Czech municipality, following Prague and Pilsen. write your comments about the article :: © 2005 Construction News :: home page |