WestBL announces ambitious financing plans in Poland

Westdeutsche Landesbank Polska (WestBL) has expressed an interest in financing the construction of the second line of the Warsaw metro. The adviser for the tender is expected to be appointed next month. The bank has also announced that it is planning to bid in the planned PKP bond issue. Last year WestLB offered PKP credits worth zl.300 million, and this year it has provided the ailing railways giant with a further zl.700 million. PKP would like to repay its debts to the bank out of the funds it raises from the planned zl.2 billion bond issue. "We want to take part in the tender for the bond issue," said Maciej Stanczuk, chairman of WestBL. "As far as I know, the tender will take place in November," he went on. WestBL is also interested in financing the huge Belchatow II power plant. The bank has already been granted the license for financing the construction of the A4 highway. This will cost it euro 80 million. (Rzeczpospolita, p. B5) J.K.