The European Investment Bank has granted a PLN 1 billion loan to Warsaw, the lender said in a press release on Tuesday. The funds will be spent on city infrastructure upgrading projects.
The EIB loan will support Warsaw’s 2014-2019 investment program. Planned projects include the construction of new cycle routes, investments on the Vistula river bank, as well as the renovation of health care, social service and education infrastructure.
“Additional funds provided on very favorable terms will enable a smooth continuation of our investment program in Warsaw,” Mayor Hanna Gronkiewicz-Waltz was quoted as saying. “Our city would not be able to develop so quickly, if we had not cooperated with the European Investment Bank and raised European funds.”