MHMP: Prague is negotiating other sources of money to address the effects of the Ukrainian war
28.03.2022 7:29 | Press Release
The capital city of Prague can draw money from major European banking institutions, which will, among other things, help to cope with the effects of the war in Ukraine. This resulted from a meeting of Prague led by Mayor Zdeněk Hřiba with the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), which took place this week.
Representatives of two major European banking institutions – Vice President of the European Investment Bank Lilyana Pavlova and Charlotte Ruhe, Director of the European Bank for Reconstruction and Development for Central and South-Eastern Europe, which after 15 years he returns to the Czech Republic.
“We discussed with the European Investment Bank how Prague can draw on the Ukraine Solidarity Urgent Response package, in which the bank has set aside a total of EUR 668 million, ie approximately CZK 16.7 billion. From this current, it should be possible to finance, for example, fast constructions or much-needed building materials. We also negotiated with the EIB to finance the construction of the D metro. Based on the negotiations, the EBRD will offer us financing opportunities for sustainable housing projects and strengthening Prague’s energy self-sufficiency, ”says the Mayor of Prague, Zdeněk Hřib.
In the next few weeks, tens of thousands of people came to the capital city of Prague to seek safety before the war in Ukraine. In addition to the financial costs associated with the current emergency, the capital is also preparing for the long-term effects of this situation, in the areas of housing, education, social services and other key areas of urban infrastructure. Prague is actively looking for investments that will successfully meet the challenges and contribute to the sustainability and further development of Prague. Investment is still needed for modernization leading to a healthier environment and climate sustainability.
European Investment Bank Vice President Lilyana Pavlova said: “I am very pleased that the European Investment Bank will be involved in the transformation of Prague into a green, sustainable and socially responsible city, which will be a model for another European metropolis. We are ready to support potential plans of Prague under the leadership of Mayor Hřiby, such as the construction of metro D, or a suitable standard of living for all Praguers through our programs ELENA, AdvisoryHub and JASPERS. We are also ready to help Prague support people fleeing the war in Ukraine. I would like to thank Mayor Hřib for these activities, because he embodies the values, empathy and warmth that are typical of Prague and the Czech Republic. “
“I very much welcome the cooperation with the European Investment Bank. We received CZK 45 million from the ELENA program for project preparation of photovoltaic installations and energy saving measures, which will take place in 100 buildings owned by the capital. m of Prague. With the subsequent expected investment of 50 million euros in the years 2024-25 hl. m Prague counts. We are also preparing a similar cooperation, ie the ELENA 2 project, for private family houses, ”concludes Petr Hlubuček, Deputy Mayor for Safety and the Environment.
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author: Press Release