EIB lends Poland €490 mln for roads

The European Investment Bank will lend €490 million to the Polish state-owned Bank Gospodarstwa Krajowegpo (BGK) for the construction of expressways, the EIB said in a press release on Wednesday. The funds will specifically be spent on building new segments of the S8, S12 and S17 expressways in central Poland. “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,” said EIB vice-president László Baranyay. “EIB loans are a significant source of funding for Polish motorways, next to bond issues and EU funds,” said Dariusz Kacprzyk, CEO of BGK. “So far, BGK has, together with the EIB, managed to provide financial resources for the construction of 808 km of highways and 932 km of expressways all over Poland.”