The European Investment Bank (EIB) is providing a EUR 500 million loan for the construction of 89.5 km of A1 motorway from Gdańsk to Nowe Marzy.
The EIB loan of 30 years duration is extended to Gdańsk Transport Company S.A. and it will cover the design, construction, operation and maintenance of the mentioned motorway. The EIB will finance 74% of the project's costs; the Nordic Investment Bank will complement the long-term financing plan with similar loan.
Gdańsk Transport Company is a private concessionaire of the project for a period of 35 years. This company will construct and operate the new motorway, receiving revenues on the basis of a combination of availability and performance payments.
The A1 motorway is a part of the European Corridor VI linking the Baltic Sea in the north with the Czech Republic, Slovakia and Austria. In Poland, A1 Motorway connects the Baltic Sea Ports of Gdynia and Gdańsk with Katowice in the industrial region of Silesia. Through providing modern transport links the new motorway will contribute to a better integration of Poland with the other countries of central Europe.
The construction of this motorway is included in the list of priority projects of the European Action for Growth that was adopted by the European Council in December 2003 with the aim to strengthen Europe's long-term growth potential through increased investment in transport, energy and communication networks as well as in innovation and R&D.
The A1 motorway will be constructed and operated with the help of the Public-Private-Partnership (PPP) financing scheme that represents a new approach to building infrastructure and delivering public services. PPP financing results mostly in providing of long-term services related to utilisation of infrastructure mainly in the transport sector to the benefit of the EU Member States.
The Bank has invested some EUR 17.4 billion in a range of transport PPPs in various EU Member States. In Poland, the EIB has already provided a loan for the construction of A2 motorway section between Nowy Tomisl and Konin that has been financed and successfully operated with the help of PPP structure.
The EIB, as the European Union's long-term financing institution, has provided some EUR 10 billion for projects in Poland since 1990. During this period the Bank's lending has reached more than EUR 31 billion in the new Member States and Acceding Countries for project fostering European integration.