World Bank to grant PKP a EUR 110mn loan
The World Bank agreed to grant the Polish railway company PKP a EUR 110mn 15-year loan to finance its employment restructuring program. Yesterday in Washington representatives of PKP, the Finance Ministry and the World Bank signed a memorandum concerning the credit, Deputy Finance Minister Rafal Zagorny said on Thursday. The government has agreed to guarantee the loan. The money will be spent on compensation packages for dismissed employees. The PKP restructuring programme, designed to cut employment to 145,000 in 2002 from the current 167,000, will cost around PLN 1.1bn (USD 278.4mn) kp
Źródło:IntelliNews Daily
