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EIB approves 760 million euros in loans to Poland
WARSAW : The European Investment Bank said it had approved loans of 760 millions euros (940 million dollars) for investment projects in Poland.
On the occasion of the EIBs 10th annual forum in the Polish capital, the European Union's financing institution said it was offering a loan of 250 million euros in the areas of science and innovation to Poland, the largest of the 10 countries that joined the EU on May 1.
The loans to Poland, which provide funds for co-financing priority projects with EU funds, also include 85 million euros for municipal infrastructure schemes and 125 million euros for small and medium-sized enterprises.
The bank on Friday will sign a memorandum of understanding on a new loan of 300 million euros for the Polish railway network.
"This new lending brings the total amount of EIB loans granted in Poland so far to 8.2 billion euros. It will reach nine billion dollars by the end of the year," EIB head Philippe Maystadt told a news conference.
In total, the EU's lending arm has committed 27 billion euros to the 10 new EU members.
(Source: http://www.channelnewsasia.com/stories/afp_world_business/view/111786/1/.html) |
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