EIB to grant credit for Poland's road modernization

The European Investment Bank (EIB) is to grant a 200-million euro (256 million U.S. dollars) credit for the modernization of roads in Poland, the Polish News Agency reported on Thursday.

An agreement on the loan was signed here by Poland's Transport Minister Jerzy Polaczek and the EIB representatives director Andreas Verykios.

"The signed agreement is very important for the development of road infrastructure in Poland since it helps finance the construction of 11 ring roads and four express roads," the transport minister said.

"This is the first step towards good cooperation in the future," EIB's Verykios added.