EIB

The European Investment Bank (EIB) is to provide a €490m loan to Bank Gospodarstwa Krajowego (BGK) for road projects in central Poland.

The amount will be used to build two sections of the S8 expressway adjacent to the Warsaw ring road, as well as the expansion of existing roads.

The scope of work in the project will include developing a 22km dual two-lane road from Radziejowice and a 15km dual three-lane road from Marki.

The S8 expressway expansion is expected to ease the flow of long-distance traffic around the Warsaw City.

In addition to S8 expansion, the loan will be used to construct two more expressways S12 and S17, which will be a 108km road from Warsaw to Pulawy through Kurow.

"This will strengthen the economic competitiveness of Poland and increase the quality of life of Polish citizens."

EIB vice-president László Baranyay said: "EIB funds will help to eliminate bottlenecks and reduce travel time on these expressways to Warsaw by providing additional capacity and contributing to improved travel quality and safety.

"Ultimately, this will strengthen the economic competitiveness of Poland and increase the quality of life of Polish citizens."

Both the projects will comprise environmental friendly features such as acoustic screens, wildlife crossings, drainage and runoff treatment, which will improve road safety.

BGK president Dariusz Kacprzyk said: "EIB loans are a significant source of funding for Polish motorways, next to bond issues and EU funds.

"So far, BGK has, together with the EIB, managed to provide financial resources for the construction of 808km of highways and 932km of expressways all over Poland."

Earlier this year, EIB also provided around €2bn for Polish road and rail investments, including €1bn for the construction of the S3 and S5 expressways.

Image: The S8 expressway in Poland. Photo: courtesy of Krzysztof Nalewajko.