EBRD to aid PKP in debt repayment before privatization

In a step aimed at preparing Polish national railway PKP's privatization bid, the company is about to finalize talks with the European Bank for Reconstruction and Development (EBRD) on a euro 130 million loan which would be earmarked for payback of PKP's debts. PKP president Krzysztof Celinski was quoted by Rzeczpospolita as saying that this year a tender should be announced for the servicing of zl.1.5 billion-worth of seven-year bonds. Another method PKP plans to use to obtain needed funds is the sale of real estate, from which PKP hopes to receive zl.480 million within the next three years. In addition to this, the company is preparing the privatization of its spin-off companies, and the Warsaw-area railway company WKD, it is believed, will be the first one on offer. (Rzeczpospolita, p. B3) P.J.