For 2013-2015, the European Investment Bank planned to boost financial support to EUR 65-70 Billion, of which 90% is dedicated to EU member states. Financing is focused on four areas: innovation and skills, efficient use of resources, strategy infrastructure and access to financing for small companies.
I n these three years, for the EU strategic infrastructure segment (energy, transport and communications), the bank plans to grant a financing of EUR 10-15 Billion, generally the bank lending less than its upper limit of 50% of the project cost, but this can rise in exceptional circumstances. We specify that within the multiannual 2014-2020 budget, EC proposed joint strategic programmes that impacted on EIB Group’s activity, among which “Horizon 2020”, the Connecting Europe Facility and COSME (Programme for Competitiveness of Enterprises and Small and Medium-Sized Enterprises).
The outcome of the EC and EIB Group dialogue was that the bank will contribute to speeding up the development and implementation of various projects part of the priorities of the multiannual budget.
In this context, at the beginning of the year, EIB granted Hungary a loan of EUR 250 Million for the rehabilitation of railway infrastructure and for improving its investments programme for 2013-2016. The objective of the project is to improve the safety, capacity and performance of the existing both commuters and freight conventional railways. The project includes different national graphics, mainly for the improvement of infrastructure and bridges, signalling systems, communications, but also for the modernisation of railway stations, including by increasing the accessibility of low-mobility people. The modernisation of railway infrastructure and rolling stock in Hungary is a priority for EIB, the transport sector benefiting from credits worth EUR 4.2 Billion (since 1990), representing 25% of EIB’s total credit commitment for Hungary.
Joining Hungary at the end of the year, Poland also received financing from EIB for railway infrastructure. The bank allocated EUR 235 Million to railway infrastructure manager, PKP PLK, with funds being distributed to the modernisation works of a 92.5 km section between Warsaw and Radom. The project consists in the construction of the second line between the two points, the modernisation of the existing supply system and the replacement of signalling and telecommunications systems. Modernisation works are to be launched this year and completed in 2017.
“The EIB loan supports our investment programme worth PLN 9 Billion (over EUR 2 Billion) for 2014. PLK will use available funds through all resources for the projects on railway infrastructure modernisation and rehabilitation”, declared Remigiusz Paszkiewicz, President of PLK.
With this loan, PKP PLK continues its collaboration with EIB. Including the latest operation, the bank has supplied nine cre-dits with a total value of EUR 1.65 Billion to the modernisation of railway infrastructure in Poland. In 2012, EIB’s financing in Poland was of EUR 4.4 Billion, 15% of which being dedicated to railway and urban transport projects.
Share on:
