‘Billions in advance payments for rail, road, ports from EU’
18:00
Advance payments worth PLN 2 billion will be received from the Connecting Europe Facility by, among others, the Polish State Railways (PKP), the General Directorate for National Roads and Motorways (GDDKiA) and seaport management, the ministry of funds and regional policy has informed.
As a rule, EU money finances investments in Poland in two ways. One of them is reimbursement of expenses already incurred, and the other is advance payments, which constitute a kind of starting capital each year. For the Connecting Europe Facility, which supports the largest infrastructure investments, advances are paid based on annual implementation reports.
According to a press release published on April 29 by the ministry, good cooperation and close coordination of work between various organizations meant that all annual project reports for 2019 were submitted by March 31.
The Connecting Europe Facility is a European Union fund for pan-European infrastructure investment in transport, energy and digital projects which aim at greater connectivity between European Union member states. It operates through grants, financial guarantees and project bonds.
(PAP)
