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 is lending PLN 1 billion (some EUR 238 million) for the construction of the central section of Warsaw’s new metro new line, providing additional EIB support for the development of sustainable public transport in one of the most congested cities in Europe. Last year, the EIB granted a loan for the purchase of modern and energy-efficient rolling stock for the Warsaw metro.
The European Investment Bank (EIB) is providing a PLN 1 billion (EUR 240 million) long-term loan to finance municipal infrastructure projects upgrading the City of Warsaw. Mobility schemes, education, social and healthcare infrastructure projects and the modernisation of public and green spaces will be supported by the European Union’s bank as part of Warsaw’s 2014-2019 investment programme.