EIB signs agreement with PKP Intercity to finance Poland’s railway operator

A PLN 1bn (EUR 233m) loan will help PKP Intercity acquire new rolling stock and modernize its existing carriages.

Better trains on better railways for a better travel experience. The European Investment Bank (EIB) has signed today an agreement with PKP Intercity to finance the long-term investment program of Poland's main railway operator.

A PLN 1bn (EUR 233m) loan will help PKP Intercity acquire new rolling stock and modernize its existing carriages. The project is in line with PKP Intercity's strategy to become a high-quality provider of sustainable long-distance rail passenger transport in Poland. Faster and safer trains will also enable improved cross-border services to neighboring countries such as Slovakia, the Czech Republic, Germany, Hungary, and Austria.

"The project is a further element of the Bank's support for the modernization of the transport sector in Poland, and for rail transport in particular. It will help PKP Intercity to catch up with Western European standards", said Vazil Hudak, EIB Vice-President in charge of operations in Poland and Cohesion Countries. "Poland today has a modern road network and is now aiming at having an equally modern railway network with efficient train operators. The EIB fully supports this long-term strategy, which has a beneficial impact not just on the quality of service, but also on the climate and environment by fostering a shift from road traveling to rail".

Development of railways is of key importance for Poland's economic progress, as well as being a response to the growing mobility of Poles. In order to be able to successfully carry out its mission, the Polish railway required large investment in both infrastructure and rolling stock. The first effects of our activities are already visible – on the rail tracks and in the number of passengers growing constantly since 2015, leading to as many as 46 million people traveling on our trains in 2018. We are looking forward to the time when more new or modernized trains will start to arrive on the track, ensuring that our passengers have comfortable and safe journeys, said Marek Chraniuk, President of the Board of PKP Intercity.