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World Bank lends Poland 750 million euro

PR dla Zagranicy
John Beauchamp 08.06.2011 14:17
The World Bank has leant Poland 750 million euro, Michal Krupinski, Alternate Executive Director of the World Bank in Poland announced on Tuesday.

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“The funds from the World Bank will be allocated to the State Budget,” Krupinski said, adding, however, that Poland will have to push through a number of reforms.

“This 750 million euro allocation is to go towards activities that are to increase energy efficiency as well as the development support of renewable energy,” Krupinski told the PAP news agency.

The loan is to be bolstered by further payments from the World Bank in 2012 and 2013, with an estimated 1 billion US dollars expected to be paid out to Poland each year respectively.

“These actions are to concentrate on support for local government as well as energy development through similar loan instruments, such as results based lending,” Michal Krupinski concluded. (jb)

tags: loan, world bank
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