The European Investment Bank (EIB) is providing a loan of €250m to Poland’s PKP Polskie Linie Kolejowe to support upgrading railway infrastructure in the country.
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The loan will be used to finance improvements to the railways along the TEN-T North Sea-Baltic Corridor connecting the Baltic Sea with the Ukraine border.
It will support modernisation of the 171km section between Warsaw and Lublin, and rehabilitation of the Luków-Lublin freight bypass along a 51km stretch, both for passenger and freight rail traffic. The loan will also be used to build new tracks where increased transport capacity is needed to meet rising traffic demand.
In addition to reducing travel times for freight and long-distance traffic, the project will have significant positive impacts on commuter traffic in Warsaw and Lublin. The upgraded railway will provide a smoother transport flow by allowing a higher maximum transport speed, as well as improve passenger safety through the implementation of updated security systems.
EIB vice-president László Baranyay said: "The EIB loan will help to improve Poland’s railways along a strategic Trans-European transport corridor with positive consequences for the environment, transport safety, capacity and speed.
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By GlobalData
"This will help to improve the quality of life of passengers, particularly people commuting to work in Warsaw and Lublin, as well as modernising the transport links needed to help further Poland’s economic development."
Previously, the bank has provided 15 loans to PLK, totalling €2.3bn.
Image: EIB vice-president Laszlo Baranyay and PLK management board member Malgorzata Kuczewska-Laska during the signing ceremony. Photo: courtesy of European Investment Bank.
