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EIB Vice-President Laszlo Baranyay and Mayor of Łódź Hanna Zdanowska. Photo: EIB
EIB supports modernisation of Polish railways
Published: Wed, 2015-03-11 15:00-
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Loans totalling more than PLN 1 billion granted
The European Investment Bank (EIB) granted four loans totalling more than PLN 1 billion for investments in environment protection, urban infrastructure modernisation in Łódź and railway infrastructure in western Poland.
László Baranyay, vice-president of EIB responsible for the bank's operations in Poland stressed that "By supporting the implementation of these important investments, the EIB, as the European Union's bank, is further engaged in increasing the competitiveness of the Polish economy. Thanks to excellent cooperation with Polish cities, banks and railway companies we will be able to support realisation of investments that contribute to sustainable economic development and increasing the quality of life in Poland".
EIB is also strongly engaged in the development of Polish rail. It granted PKP Polskie Linie Kolejowe S.A. a loan of EUR 100 million, (about PLN 414 million) for modernisation of more than 71 km of the E 59 railway between Rawicz and Czempiń. These works, worth more than PLN 1.6 billion, are part of a comprehensive modernisation of the E 59 railway between Wrocław and Poznań, which consists of the total reconstruction of rails and tractions. The modernisation shall also include power supply, signalling and telecommunication systems. Passenger trains will be able to reach 160 km/h on the modernised route, whereas cargo trains will be able to reach up to 120 km/h. Passengers will use new, comfortable platforms. Modernisation will take into account the needs related to environmental protection. Level crossing safety will also increase as several of them are to be substituted with viaducts.
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