ZE PAK to receive EBRD loan not earlier than September

The EBRD has informed on its web-page that it will make a decision on September 7 concerning whether its consortium of banks would participate in the financing of the suspended investment in the Elektrim controlled ZE PAK power-plant. If the answer is positive, then the institution would release EUR 75 million of the total loan of EUR 350 million, which were originally scheduled to be transferred by July. It is still unknown what the reactions of creditors and employees will be as they have become increasingly impatient with the progress. It will also wipe out Elektrim's safety margin on the investment which is supposed to be completed by July 1, 2006. "According to what we know, all members of the consortium confirmed the dates of loan committees sessions. All the necessary agreements were made," said Elektrim’s spokeswoman Ewa Bojar. (Puls Biznesu, pp. 1, 7) M.M.