World Bank representatives meet in Katowice to discuss $200 million loan

Yesterday in Katowice, the representatives of the World Bank met with the head of the Śląsk local government and the voivode of the region to discuss the details. Further talks with the management of Kompania Węglowa are planned for tomorrow. The most probable scenario is that the loan will be accepted by the board of Directors of the World Bank by the end of April, which means that the funds will be transferred to the sector later in the first half of this year. Earlier, the World Bank announced that it was ready to grant up to $500 million for further reforms of the sector. The first portion of $200 million will be chiefly devoted to easing the social consequences of the reforms, that is for financing protective social security for people who will lose their jobs. The World Bank is also planning further talks concerning an additional $100 million for reversing the negative effects of the mining sector on the environment. (Rzeczpospolita, p. B3) A.K.