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The Warsaw Voice » Business » July 30, 2012
Business & Economy
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World Bank Loan for Poland
July 30, 2012   
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The World Bank has granted Poland a 750-million-euro loan to help the country strengthen its public finances. The bank grants loans for purposes such as consolidation of public finances, reducing the budget deficit and debt, and introducing fiscal rules to strengthen public institutions.

Peter Harrold, World Bank director for Central Europe and the Baltic Countries, said the loan was a sign of recognition for the public finance reforms undertaken by the Polish government, including pension system reforms. According to the World Bank, the reforms will guarantee Poland access to financial markets on reasonable terms, will make it possible for the country to finance its welfare programs and will help it secure funds for investment in infrastructure and human capital, which will support economic growth.

The World Bank loan is the first of two for Poland. The second will be paid out next year.
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