PLN 1.5 billion (EUR 350m) loan to co-finance the extension of the second line of the City’s metro
Aim to improve sustainable transport in Poland’s capital city and contribute to climate action
Warsaw residents will soon get an expanded and greener public transport service thanks to a European Investment Bank (EIB) loan to the City of Warsaw for the upgrade of the local metro network. The EIB Vice-President, Vazil Hudak, and the Mayor of Warsaw, Rafal Trzaskowski, signed a PLN 1.5 billion (EUR 350m) loan agreement today during a ceremony at the City hall, which will serve primarily for the extension of the second line of the city metro.
The City will use the EIB loan to co-finance a 16,4 km-long extension of second metro line (Metro line II) in Warsaw.
The overall financing is the third big EIB loan to Warsaw for the creation of a modern metro network. The EU bank has already financed in 2012 and 2013 the construction of the central section of the second metro line, as well as the purchase of rolling stock for both metro lines.
“We are delighted to finance the extension of the second metro line in Warsaw and to contribute to sustainable urban transport in Europe’s ninth largest capital city by population”, said Vazil Hudak, EIB Vice-President, who oversees the Bank’s operations in Poland and Cohesion countries. “As much as we help shifting traffic from roads to rail at national level, by investing in railways, we are equally eager to help Warsaw residents to shift from private cars to public transport: that will make the city even more vibrant and ecological”.
The EIB signed a second tranche worth €40 million for the rehabilitation of 180 kilometres of road along the five main routes in Montenegro. The loan from the EU bank is complemented by a €1.5 million technical assistance grant awarded under the Economic Resilience Initiative (ERI). It is the first ERI grant to be awarded to a project in the Western Balkans. The total EIB investment worth €80 million is expected to increase road safety and efficiency and facilitate faster economic recovery and regional trade.
The Italian healthcare system is also being reinforced to tackle the emergency situation caused by the COVID-19 pandemic. This is being conducted with the backing of the EU bank, the EIB, which is providing the Italian government with a €2 billion loan covering around two-thirds of the resources needed for the operations contained in the Decree for revival of the healthcare system
The EIB has signed an €11.8 million EU grant with Bosnia and Herzegovina to finance the construction of the 6.9 km-long Tarčin-Ivan section of the pan-European Corridor Vc. The EU grant comes from the Western Balkans Investment Framework (WBIF) and complements an earlier EIB loan worth €40.4 million approved by the EU bank for the same section of the Corridor Vc. For the entire section including the 1 720 m long double-tube Tunnel Ivan, the European Union has provided a total of €23.3 million in grants in addition to financing provided by the EIB and the European Bank for Reconstruction and Development (EBRD), complementing funds provided by Bosnia and Herzegovina. This agreement marks another important step forward for EU assistance to the country in the construction of the Corridor Vc.