The European Investment Bank (EIB) granted Warsaw a long-term 330 million U.S. dollar credit, which will be used to help finance city investments during the coming years, the Polish Press Agency (PAP) reported on Tuesday.
The EIB credit is intended to support the city's 2014-2019 investment program, including projects related to city transport, education, health and social care, as well as public space, including parks.
According to a recent announcement by Warsaw Mayor Hanna Gronkiewicz-Waltz, the city's investment outlays are to reach 8.5 billion U.S. dollars during the next several years. Of the sum, 2.8 billion U.S. dollars is to be earmarked for the completion of the second line of the Warsaw subway.
The investment program also foresees building new bike paths and 30 new park & ride facilities on the outskirts of Warsaw and neighboring towns.
"These investments will contribute to long-term economic growth and a sustainable development strategy of the capital. The aim of this strategy is a modern, attractive and dynamic Warsaw," EIB said in a statement.