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.

Related Articles

Poland reportedly defies EU court injunction on logging in Unesco-listed forest

Poland will not comply with the Court of Justice of the European Union’s injunction on logging in the ancient Bialowieza Forest, a newswire report claimed on August 4. Warsaw’s stance in ... more

Polish regulator gives RBI new IPO deadline

Polish financial market regulator KNF on August 2 gave Raiffeisen Bank International (RBI) a new deadline of May 15, 2018 to float 15% of its Polish unit. Under the terms of its purchase of the ... more

Central Europe’s factories remain busy despite a summer lull in PMIs

Manufacturers in Central Europe reported a step back in activity and confidence in July, purchasing managers’ indices (PMI) released by IHS Markit on August 1 showed. While, the indicators still ... more