Tuesday, June 30, 2009

EIB: Funds for Trans-European Transport Network

The European Investment Bank (EIB) lended 1 billion euro for the extension of the Warsaw-Berlin A2 motorway forming part of the priority Trans-European Transport Network.The EIB funds will fund 62.5% of the total cost of the project which will be implemented and operated by Autostrada Wielkopolska S.A. (AWSA). The new motorway will link Swiecko and Nowy Tomysl in Western Poland and is a continuation of the first phase of construction between Nowy Tomysl-Komorniki and Krzesiny-Konin that was co-financed by the EIB with a EUR 275 million loan and has been fully operational since 2004.

The new motorway link will complete a 358 km-motorway section on Poland’s main East-West transport axis, providing a modern highway connection between several major Polish cities, including Poznan, Lodz and Konin.

Mrs Marta Gajecka, EIB Vice-President responsible for EIB lending in Central and Eastern Europe, including Poland, commented : “It is a priority for the EIB to finance projects, which will contribute to the reduction of Poland’s gap in rail and road infrastructure that needs to be filled in the coming years. The connection of Poland with the main trans-European networks of central Europe is a key element for sustainable economic growth and creation of employment in the region concerned as well as in the whole country”.
Background:

The mission of the EIB, the European Union’s long-term financing institution, is to contribute to the integration, balanced development and economic and social cohesion of the Member States by financing sound investment. Since 1990 t he EIB has signed finance contracts in Poland exceeding to EUR 20 billion, including the current loan. Out of this some EUR 12.7 billion represent EIB loan commitments since the accession of Poland into the EU in May 2004.

Since 1990 t he EIB co-financed sections of the A1, A2, A4 and A6 motorways and major national roads along the Pan-European Corridors II, III and VI in Poland. Up to now, the Bank provided some EUR 8.5 billion for the rehabilitation and extension of the Polish transport network.

Source European Investment Bank

More information European Commission press room

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