The European Investment Bank (EIB) is lending EUR 50 million for the purchase of new rolling stock for the regional passenger train operator in Mazovia, central-eastern Poland.
The EIB funds will finance the modernisation of the existing rolling stock fleet of Mazovian Railways, which is the final beneficiary of the loan provided to the Mazovian Voivodship. The project comprises the acquisition of 10 articulated, 4-section electric multiple units and 11 double-deck push-pull trains, each consisting of three coaches.
The project will serve to upgrade railway services and improve the competitiveness of the region around the Polish capital as well as contributing to the reduction of economic disparities between Warsaw and Mazovia's sub-regions. The new trains will increase the mobility of workers by reducing commuting times. They will raise the capacity of Mazovian Railways' fleet by 33% in terms of available seats and enhance passenger safety and comfort. The new rolling stock will lower operating and maintenance costs and improve the environment in the region as it complies with EU environmental requirements.
Financing projects contributing to social and economic cohesion in the EU is the key activity of the EIB. As the financing institution of the EU, the EIB frequently co-finances projects supported by grants from the EU Structural and Cohesion Funds. As the whole territory of Poland consists of priority regional development areas, the average annual growth rate of EIB activities in the country has reached 25% in recent years.
Direct lending to Polish Voivodships and municipalities is the EIB's priority as it provides the respective authorities with the funds needed for the implementation of projects that are important for the deepening of their integration into the EU single market in particular, and for the application of European standards, especially in the area of the environment.