Poland gets 2 billion euro loan for roads

Poland has received a record-high loan of eight billion zloty (almost 2 billion euro) from the European Investment Bank for road construction for use until 2013.

The money is enough to re-do 4,000-5,000 kilometres of roadways in the country and construction companies will begin bidding for contracts valued around 40 million zloty (almost 10 million euro) in the coming year.

This is the largest investment loan that Poland has received from the EIB – in total, between the years 2007-2009; Poland has borrowed 300 million zloty (73 million euro) from the Bank.

Janusz Piechocinski, Vice President of the government’s Infrastructure Commission, says that 4 billion zloty (about 1 billion euro) has been earmarked for the roadways needing the most urgent attention. Piechocinski added that the Commission’s report on the state of Polish roads from last year showed that about 4,000 roads are in a poor state and demand for immediate attention.

Source: www.thenews.pl

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