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The Warsaw Voice » Business » March 18, 2009
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EIB to Lend Billions to Poland
March 18, 2009 By L.¯.    
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The European Investment Bank (EIB) is ready to lend Poland anywhere from 3.5 to 4 billion euros to stimulate its economy, the bank's governor Philippe Maystadt told Prime Minister Donald Tusk when they met in Brussels in early March.

The loan would add to a 24.5 billion-euro aid package that the EIB, the World Bank and the European Bank for Reconstruction and Development have earmarked for all Central and Eastern European countries.

Last year the EIB lent Poland 2.8 billion euros, the largest amount of all new EU members, Maystadt said, adding that the bank would lend anywhere between 3.5 and 4 billion euros to Poland this year, either directly or via banks here.

Tusk said the money would primarily be allocated for projects in infrastructure, including road and freeway construction.

The EIB is already involved in the financing of road construction in Poland. In mid-December, it signed an agreement with the Polish government under which it will grant Poland a 1.7 billion-euro loan together with the Swedish Export Credit Corporation and the Nordic Investment Bank. The money will be spent to build a 62-kilometer section of the A1 freeway between Nowe Marzy and Toruń. In the future, the A1 freeway will connect Gdańsk in northern Poland with Vienna in Austria, via the Czech Republic and Slovakia.

The EIB has lent Poland a total of 17.8 billion euros since 1990.
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