EIB extends two new credits to Poland totalling EUR 350mn.

By bne IntelliNews November 29, 2010
The European Investment Bank (EIB) extended Poland two new credits, the bank's representatives said during the agreement signing on Friday. The credit at EUR 225mn was extended to co-finance 40 km of A1 Motorway, and to support with PLN 500mn ( about EUR 125mn) programmes conducted by Lublin city's authorities. The first loan will finance the construction of the Strykow-Tuszyn motorway section. Earlier the General Directorate for National Roads and Motorways (GDDKiA) said that was to sign agreement to construct the section of A1 motorway Strykow-Tuszyn. The cheapest offering ( PLN 1.15bn) was submitted by Polimex-Mostostal consortium. The second agreement will support ten projects focused on upgrading municipal roads, improving public transport and renovating cultural heritage in line with the priorities of the City of Lublin's multi-year investment plan for the period 2009-2015. The city president Adam Wasilewski stressed that the whole activity was very substantial in connection of applying for the European Culture Capital in 2016 by Lublin. Since 1990, the EIB has lent Poland a total of EUR 27.6bn. ISB, tom

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