The first tranche of the EIB’s €900 million approved financing provides favorable long-term funding, alongside EU grants, which will boost sustainable transport and a shift from roads to rail and thus significantly improve safety for passengers, while reducing traffic congestion, air pollution and greenhouse gas emissions.
The EIB funding will be used for the rehabilitation, modernization, expansion and improvement of the railway infrastructure and rolling stock in the country. It will support investments of about €2.6 billion aimed at revamping Croatia’s railways and provide safer, faster, more efficient, and greener transport solutions to its citizens.
The EIB’s first sector-dedicated financial facility for Croatia will enable smart, sustainable and safe forms of transport and connectivity, which are needed to support the priorities of balanced growth and better regional integration.
Under the agreement, the national railway infrastructure company Hrvatske željeznice Infrastruktura (HŽI) will carry out projects for the rehabilitation and modernization of the railway network, and the national passenger train operator Hrvatske željeznice Putnički prijevoz (HŽPP) will be in charge of acquisition of the rolling stock. Both companies will work under the supervision of the Ministry of the Sea, Transport and Infrastructure.
The EIB has provided technical and advisory support to the Ministry of the Sea, Transport and Infrastructure under the EU Joint Assistance to Support Projects in European Regions (JASPERS) program for the preparation of railway projects. The EIB will continue to provide its expertise and assistance for the projects’ successful implementation.