EU gives Poland a $628m motorway loan

The European Investment Bank (EIB) is lending $628m to Bank Gospodarstwa Krajowego (BGK), Poland’s only state-owned bank, for the construction of sections of the S8, S12 and S17 motorways in central Poland. 

Two separate sections of the S8 adjacent to the Warsaw ring road will be built, a 22km dual carriageway from Radziejowice, 40km south-west of Warsaw and a 15km dual three lane stretch from Marki, 14km from Warsaw. 

The projects aim to ease the flow of long-distance traffic around the Polish capital. The construction of almost 108km of the S17 and S12 expressways from Warsaw through Kurów to Puławy is also receiving EIB financing.  

Both projects are designed to be environment-friendly owing to the installation of acoustic screens, wildlife crossings, drainage and runoff treatment. 

László Baranyay, the EIB vice-president responsible for lending in Poland, said: "EIB funds will help to eliminate bottlenecks and reduce travel time on these expressways to Warsaw by providing additional capacity and contributing to improved travel quality and safety.  

"Ultimately, this will strengthen the economic competitiveness of Poland and increase the quality of life of Polish citizens."  Dariusz Kacprzyk, BGK President, added: "EIB loans are a significant source of funding for Polish motorways, next to bond issues and EU funds.  

"So far, BGK has, together with the EIB, managed to provide financial resources for the construction of 808km of highways and 932km of expressways all over Poland."  

In June this year, the European Investment Bank (EIB) has awarded Poland a loan worth $364m for improvements on a railway line between Katowice to Krakow.

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