European Investment Bank may grant euro 150 million for road renovation

Beginning next year European Investment Bank (EIB) may grant Poland a loan for road renovation amounting to euro 150 million, as Rzeczpospolita discovered from talks between Polish Transport Minister and EIB representatives. One of the conditions for extending credit is a Polish government promise to provide the same amount of money. According to General Office for Public Roads (GDDP).estimates, zl. 500 million should be spent annually to stop road damage. EIB money would have to be spent over the first two years by regional GDDP outlets. Road projects costing less than euro 5 million would not have to be carried out on the basis of international tenders and thus could provide work for small road companies in Poland. If the talks are successful, Poland could receive the first installment in March 2001. (Rzeczpospolita, pp. A1, B1)