The International Investment Bank signed a EUR 30 million 7-year loan agreement with the Slovak company Tatravagónka — one of the leaders of rail freight car manufacturing in Europe. The first tranche in the amount of EUR 15 million has been provided in 2014.

These funds will be used by Tatravagónka to expand its operations in the Czech Republic and the Russian Federation. A multilateral nature of the financed project goes in line with the Bank’s course to assist mutual integration of its member states' economies and support social and economic infrastructure where railways are an important element.

The Bank’s loan portfolio, therefore, reached EUR 244 million in 2014, meeting lending targets and exceeding the like-for-like figures of 2013 by 154%.

Reference

Tatravagónka a.s. was founded in 1994. The company is one of the biggest producers of rail freight cars and boxcars platforms for the European market. The company specialises on the development, production and distribution of the rail freight vehicles and their components for freight and passenger railway transport.