EIB grants Croatia 400 mln euro loan for railway upgrade

The loan is part of the EIB’s largest lending operation for Croatia to date, amounting to 900 euro million in approved financing for the railway sector, EIB said in a press release.

The EIB funding will be used for the rehabilitation, modernisation, expansion and improvement of the railway infrastructure and rolling stock in the country. It will support investments of about 2.6 billion euro aimed at revamping Croatia’s railways and provide safer, faster, more efficient, and greener transport solutions to its citizens. Croatia will provide the rest of the funding from European Union fund and own funds.

"Railways are one of the safest, low-emission means of transport and we are proud to support Croatia in its ambitious plan to develop a modern railway system for the benefit of the people, businesses and the environment, in line with our common EU goals to ensure a greener and more secure future," said EIB Vice-President Teresa Czerwinska.

Under the agreement, the national railway infrastructure company Hrvatske Zeljeznice Infrastruktura (HZI) will carry out projects for the rehabilitation and modernisation of the railway network, and the national passenger train operator Hrvatske Zeljeznice Putnicki Prijevoz (HZPP) will be in charge of acquisition of the rolling stock.

($ = 0.918 euro)