EIB lends PLN1bn for infrastructure upgrades in western Poland

By bne IntelliNews March 9, 2015

The European Investment Bank (EIB) has agreed to lend over PLN1bn (€235m) to the city of Lodz and towards rail development in western Poland, the bank announced in a statement released on March 6.

The funds, dispersed in four loans, will be used to help in modernization of urban infrastructure, and projects connected with environmental protection in Lodz. A total of €100mn (around PLN414mn) will meanwhile go to PKP Polskie Linie Kolejowe towards modernisation of the line between Wroclaw and Poznan. The route is planned to run high-speed trains.

Two loans worth PLN450mn in total for regeneration of urban infrastructure in ‎Lodz. EIB funds will be used for renovations of streets, public spaces and municipal buildings, 

The EIB line will be used to finance eco-friendly investments connected with improvements in energy efficiency, modernisation of equipment and machinery, sources of heat and thermal insulation of buildings. The investment in these projects will total PLN310mn and be channeled via local lender Ochrony Srodowiska Bank. This is the fifth such loan and is part of the EU's Small and Medium Enterprise Finance Facility Energy Efficiency Window.

“The EIB, as the EU’s bank, is becoming ever more engaged in the ever more competitive Polish economy,” the EIB’s Polish chief Laszlo Baranyay said.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Strongly profitable Czech petrochemical maker Unipetrol puts cracker explosion behind it

Unipetrol looks to have finally got over the August 2015 fire and explosion that wrecked its steam cracker, an indispensable installation in the production of ethylene feedstock needed to manufacture ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Play Communications' Warsaw IPO price sets value at over PLN4bn

Play Communications, owner of second biggest Polish mobile operator P4, has set the price of its upcoming initial public offering (IPO) at PLN36 (€8.5) per share, putting the value ... more

Most Read

  1. Siemens considers quitting Russia
    8 days ago
  2. COMMENT: Gazprom’s exit from Turkey is a sign of the times
    9 days ago
  3. Wildfires hit Croatia and Montenegro’s Adriatic coast
    4 days ago
  4. Nato still has a mixed reception in Emerging Europe
    8 days ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    2 days ago
  1. CHINA RISING: When sleeping giants meet
    11 days ago
  2. Belarus’ retail king Euroopt goes on the road
    17 days ago
  3. Moldova, Bulgaria, Poland, Albania and Latvia to lose more than 40% of their populations by 2100
    1 month ago
  4. STOLYPIN: Russia’s cyber-challenge cuts both ways
    19 days ago
  5. Siemens considers quitting Russia
    8 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss