The European Investment Bank (EIB) lends PLN 1 billion (EUR 250 million) for the modernisation of the Polish electricity distribution network and PLN 500 million (EUR 122 million) to the National Fund for Environmental Protection and Water Management to co-finance priority projects in the area of environment with EU grants.

Mrs. Marta Gajęcka, EIB Vice-President responsible for lending in Central Europe, including Poland, stated: “EIB funds will improve the reliability and the efficiency of the electricity supply in Poland and help the country to meet the commitment to implement the European environmental legislation, particularly the Urban Wastewater, Drinking Water and Water Framework Directives. This will substantially contribute to the increase of the quality of life of Polish citizens”.

The loan of PLN 1 billion will support the upgrading and extension of the distribution electricity networks in central and northern Poland and enable – the project promoter ENERGA SA – to connect some 134,000 new system users and improve the reliability of supply and to reduce network losses.

The loan of PLN 500 million will finance 15 water supply and wastewater collection infrastructure projects representing investments totalling to EUR 426 million. All these priority projects have been already approved for financing by EU Funds and they are located in several small and medium-sized municipalities across Poland. In addition, the loan will make possible to co-finance further projects of similar nature after their approval by respective authorities.

Background:

The mission of the EIB, the European Union’s bank, is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investment.

Since 1990, the EIB’s lending in Poland reached some EUR 23 billion. Within the recent years the EIB lending in the country has a strong increasing tendency: out of this amount, signed loan contacts in Poland exceeded EUR 15 billion since the country’s accession into the EU in 2004.