3 Dec 2012

NIB provides new loan to A1 motorway in Poland

NIB and Poland’s state development bank Bank Gospodarstwa Krajowego have signed a loan agreement totalling EUR 100 million for building a new stretch of the A1 motorway.

NIB’s loan will finance the construction of a 37-kilometre dual-carriage motorway stretch between the towns of Strykow and Tuszyn in central Poland. As part of the Trans European Road Network, the A1 road links the harbour cities on the Baltic coast of Poland to countries in Central and Southern Europe.

“Modern transport links in Poland and Central Europe will secure efficient trade between the Baltic Sea region countries and the rest of Europe. Faster, safer and less expensive transportation contribute to strengthening the competitiveness of NIB’s member countries,” says Henrik Normann, NIB President and CEO.

The construction work is expected to be completed during 2013.

In the period 2005–2008, a total of EUR 290 million was allocated by the Bank for two long-term loans for the construction of the A1 motorway from Gdansk to Torun.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Stefan Fridriksson, Senior Manager Lending, at +358 10 618 0512,

Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,

 

Flickr BGKPhotos from the loan agreement signing
Photographer: Pamela Schönberg/NIB
Free for download, credit the photographer.