The European Investment Bank and Polish Ministry of Finance signed an agreement for a EUR 650 million loan aimed at financing 15 schemes of railway infrastructure upgrading, modernisation and selective renewal covering an overall length of around 1,150 km. The schemes are part of the Polish Master Plan for Railway Transport to 2030 approved by the Polish government.
“Modernization of the railway infrastructure is an example of exemplary cooperation between the Polish Government and the EIB in the area of supporting projects in our country. Thanks to this contract and the very favourable financial conditions, I am confident that the implementation of the project will contribute relevantly to the sustainable development of infrastructure in Poland, which is very important to the economy and life quality of Poles”, said Deputy Prime Minister Mateusz Morawiecki.
The works will be implemented by the state owned rail infrastructure manager PKP Polskie Linie Kolejowe over the period 2016-2023 and will be mostly located on the Trans-European Transport Network (“TEN-T”), including the core Baltic-Adriatic Corridor.
The projects include the modernisation of the railway accesses to the major Polish ports like Gdańsk, Gdynia, Świnoujście and Szczecin, and works on the ‘Centralna Magistrala Kolejowa’ (‘CMK’), the only high speed line in Poland, between Warsaw and Katowice.
Other project components are spread throughout the Polish territory, notably in the industrial areas in the south east, and are expected to support economic growth coherently with the EU’s and Poland’s wider convergence and cohesion objectives.
“Funds provided by the EIB will enable the improvement of travel comfort on long distance routes and in regions and agglomerations. Railway will become a more competitive mode of transport. Transport of goods will be facilitated, among others on the connections to ports. Modernization of important routes on the Trans-European Transport Network (“TEN-T”), including the core Baltic-Adriatic Corridor will positively influence the development of international trade exchange” said Mr. Ireneusz Merchel, President of PKP Polskie Linie Kolejowe SA.
The project will help achieve climate action goals thanks to the modal shift of freight and passenger traffic from road to rail. The schemes will allow for greenhouse gas emissions savings estimated by EIB at 47,000 tonnes of CO2 equivalent in an average year of operation over a 30-year assessment period.
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