The European Investment Bank (EIB) has announced it will lend €270M (£230M) to finance road upgrades in southern Poland.
The project involves the upgrade of a 40km section of the S7 express road.
The loan will help finance the construction of a 2x2-lane expressway, partially following the existing road and partially along a new route in two northern Polish provinces – Pomorskie and Warmińsko-Mazurskie. The project covers four interchanges and more than 70 engineering structures, including two bridges over the Vistula River.
The EIB will finance up to 40% of the project costs, with the remainder being funded by EU Cohesion Fund grants and by budgetary contributions from the Republic of Poland. The total cost of the project is estimated at £580M.
The General Directorate for National Roads and Motorways (GDDKiA), responsible for the construction, maintenance and operation of the national road network throughout Poland, is the project promoter and the final beneficiary of the EIB loan.
“The project will help unblock a major traffic bottleneck both for long-distance traffic and between the Gdańsk and Elbląg urban areas; improve the quality of life of citizens through increased transport safety; and have a positive impact on the environment due to a decrease in pollution. The EIB loan will be instrumental in this,” said EIB vice-president in charge of operations in Poland Vazil Hudák.