WORLD BANK – POLAND
April 1st, 2004
BY KEITH NUTHALLTHE WORLD Bank has released Euro 160 million in loans to Poland to help it restructure its coal mining industry, meeting demands from the European Union (EU) that it shrink operating subsidies upon becoming a member state in May. The loan - which must be repaid within 10 years - was signed by Poland's finance minister Andrzej Raczko and the World Bank's regional director Roger Grawe. A bank memorandum said that the loan would help "reform the hard coal industry to become a profitable sector that contributes to economic growth and improved living ...
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