Brussels, 28/09/2011 (Agence Europe) - The European Investment Bank (EIB) granted two loans in Poland on Tuesday 27 September, totalling €300 million, to improve road infrastructure.
The loan of €180 million will partly fund the 177 emergency road renovation and reconstruction schemes, covering the repair of damage to engineering structures, roads, drainage and sewerage systems after the 2010 floods. The works started in 2010 and all schemes are scheduled for completion by 2013.
A second loan of €120 million will finance the first phase of the introduction of an Electronic Toll Collection (ETC) system for vehicles of more than 3.5 tonnes and buses on a network of about 580 kilometres of motorways, 554 kilometres of expressways and 440 kilometres of national roads throughout Poland. After completion of this stage of the project, the ETC system will be extended as the motorway and expressway network in the country is expanded.
The two loans were granted to the Bank Gospodarstwa Krajowego (BGK) on behalf of the National Road Fund of the Republic of Poland. The General Directorate for National Roads and Motorways (GDDKiA) of Poland is the project promoter. (OL/transl.rt)