27/10/2015 (Agence Europe) - €475 million loan from EIB to Polish electricity sector. On Tuesday 27 October, the European Investment Bank (EIB) provided two loans totalling almost PLN 2 billion (some €475 million) to the PGE Group for electricity network modernisation and the construction of two cogeneration units in gas-fired, combined heat and power plants. The first EIB loan of PLN 1.5 billion has been earmarked for developing the electricity distribution networks in Central and Eastern Poland and respond to demand growth, reduce losses and connect new end-users and develop renewable generators. The EIB loan of PLN 490 million will be used to finance the construction of cogeneration units in Gorzów and Rzeszów and reduce the current activity of coal powered plants in the country. (EH)