The European Investment Bank (EIB) is providing two loans:
- PLN 450 million (approx. EUR 110 million) to finance the upgrading of regional transport infrastructure and rehabilitation of cultural heritage monuments in the Łódź Voivodship and
- PLN 75 million (approx. EUR 18.5 million) to support the rehabilitation and extension of priority roads in the Municipality of Łódź
Mrs. Marta Gajęcka, EIB Vice-President responsible for lending in central and eastern Europe, including Poland, commented: “I very much appreciate the current loans as they are focused on increasing the quality of life of citizens living in the City and Voivodship of Łódź and helping to strengthen the competitiveness of this centrally located region, which is of the utmost importance to the development of Poland. “
The loan of PLN 450 million will finance the implementation of priority projects included in the Multiannual Investment Programme of the Łódź Voivodship that form part of the regional development strategy for 2007-2020. This is the first EIB loan provided to the Łódź Voivodship.
The loan of PLN 75 million will support urban transport development focused on the priority road projects included in the Multiannual Investment Programme for Economic Cohesion 2007-2015 in the City of Łódź. The EIB funds will help to improve the transport accessibility of Łódź and divert traffic from the city centre through the modernisation and extension of transport infrastructure.
This loan is a continuation of the successful cooperation between the EIB and the City of Łódź. The Bank has previously provided two loans to the City for co-financing municipal and environmental infrastructure and the implementation of projects in the areas of health and education.
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. Poland is the 6th major beneficiary of EIB loans worldwide (after Spain, Germany, Italy, France and the UK) and the major customer of the EIB in central and eastern Europe.
The EIB has very well developed cooperation with Polish regions, municipalities and utility companies. Since 2007 alone, EIB loan commitments to these entities have reached some EUR 1.5 billion, including the current loans.