Fading hopes of World Bank loan for mine restructuring

Contrary to earlier announcements, the World Bank currently does not intend to lend the government $200 million to restructure the mining sector. In the middle of the year there were intensive talks on the issue between the government and the bank on the amount of the first tranch of the loan. However, the sides failed to reach a consensus. "There is no chance that we will agree to grant the loan, particularly as the mining bill has not been passed yet. The final decision will be taken during the first half of 2004," said the spokesman of the World Bank in Poland, Jacek Wojciechowicz. Taking into account the budget problems and difficulties in obtaining the loan, this could add up to mean that the restructuring of the mining sector may be in jeopardy. "We need zł. 100 million to satisfy miners claims. We fear what might happen next year," said one executive from the mining sector. (Puls Biznesu, p. 4) A.Z.