EIB grants €100 mln in loan to PKP PLK

The European Investment Bank has granted a €100 mln worth loan to PKP PLK for the modernization of 71 kilometers of railway between Rawicz and Czempiń (Wielkopolskie voivodeship), PKP PLK informed. The total value of 13 credits granted for railway modernization amounts to €2 billion. The EIB also informed that it will provide financing for pro-ecological investments (€75 million) and for the modernization of the city center in Łódź (€450 million). The European Investment Bank is the European Union's nonprofit, long-term lending institution established in 1958 under the Treaty of Rome. As a "policy-driven bank," whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about European integration and social cohesion.