The European Investment Bank (EIB) is providing two loans to help Poland develop and upgrade its road transport infrastructure: EUR 500 million for the construction of a 91 km section of the A2 Motorway, and EUR 325 million for the rehabilitation of the Poland’s national and local road network.
Mrs Marta Gajęcka, EIB Vice-President responsible for lending in central Europe, including Poland, commented: “EIB funds will facilitate Poland’s efforts to double the length of the country’s motorways within the period 2007–2013 and to upgrade the existing national road network. This is important to strengthen the competitiveness of Poland and increase people’s quality of life and transport safety”.
The loan of EUR 500 million will finance the A2 motorway section in central Poland between Stryków on the outskirts of Lódz and Konotopa close to Warsaw. The new motorway follows Poland’s major East-West transport axis on the priority trans-European transport corridor linking Warsaw and Berlin. The EIB has already financed several parts of the A2 Motorway. This loan will increase the Bank’s loan commitment towards the completion of this motorway to some EUR 2.1 billion.
The loan of EUR 325 million will support on-going rehabilitation of the Polish local road network, covering road pavements, bridges and other structures located all over the country. EIB funds will help to increase transport quality and capacity to face better the growing traffic demand and bring the road network in line with EU standards. By now, the EIB has signed loan contracts focused on the rehabilitation of the Polish national roads amounting to some EUR 1.5 billion.
In the case of both loans Bank Gospodarstwa Krajowego (BGK), on behalf of the National Road Fund of the Republic of Poland, is the borrower and the General Directorate for National Roads and Motorways (GDDKiA) of the Ministry of Infrastructure of Poland is the promoter of both projects. The EIB has an excellent record of cooperation with GDDKiA; EIB loans for the Polish road sector, managed by GDDKiA, have reached EUR 4.2 billion.
Background:
The mission of the EIB, the European Union’s bank, is to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investment.
The Polish transport sector is the major beneficiary of EIB loans in the country. Since 1990 EIB co-financing of transport projects has reached some EUR 9.5 billion, including the current loans, or some 43% of the EIB’s lending commitments in Poland over this period. The Bank has so far financially supported various projects related to the construction of new sections of the A1, A2, A4 and A6 Motorways and major national roads along Pan-European Corridors II, III and VI.