By: The Quinnipiac University Economics Research Team, Michael Szwaja
Poland’s capital Warsaw is recognized as the most congested central European city. To help combat the issue, the European Bank for Reconstruction and Development (EBRD) and the ING Group have approved an €87.2 million loan to improve the Metro infrastructure. This loan aims to ease congestion and improve public transport for commuters in Warsaw. This will be done by implementing 45 new metro trains and constructing additional tracks to support the expansion of new metro trains.
This loan will also promote Warsaw’s environmental initiative partnered with the EBRD’s Green Cities by investing in its modern public transport infrastructure while developing a comprehensive plan to improve its overall urban environment. That encourages commuters to gain a quick and convenient means of transportation while positively impacting the environment and relying less on gas-powered vehicles.
The loan of €87.2 million provided by the EBRD and ING is one of many financial contributions towards Warsaw’s €1.5 billion Green Cities program. The progression towards Warsaw’s vision for enhancing public transportation and reducing greenhouse gas emissions seems fluid. This ongoing pandemic has brought on numerous logistical and economic challenges for Poland, such as reducing business activity through governmental lockdowns and social-distancing mandates. However, it seems that the EBRD and its financial partners are active in providing loans for Poland’s infrastructure development. Their investments seem to be directed long-term, and the general public will likely appreciate the benefits once this pandemic subsides. Expect more investments to occur as Poland and Warsaw work to support the demands of a growing population while becoming more environmentally friendly.
This article is based on: https://www.ebrd.com/news/2020/ebrd-supports-expansion-of-warsaw-metro.html