Announcement of World Bank Approves Nine Hundred Seventy-Five Million Euros Policy Loan for Poland on December 22, 2008

World Bank Approves €975 Million Policy Loan for Poland Contacts: In Warsaw – Jacek Wojciechowicz (+48 22) 520 8000 jwojciechowicz@worldbank.org In Washington –Kristyn Schrader +1-202-458-2736 Kschrader@worldbank.org WASHINGTON, December 22, 2008—The World Bank’s Board of Executive Directors today approved a policy loan to the Republic of Poland in the amount of €975 million in support of the government’s fiscal reform and consolidation plans and broader economic reform program. The Public Finance Management, Employment, and Private Sector Development Programmatic Policy Loan, which has been under preparation since the summer, will support the government's plans to enhance the quality and efficiency of public finances, increase the supply of relevant and skilled labor, and strengthen the business environment. “The loan approved today reflects the World Bank’s recognition of Poland’s good macroeconomic fundamentals and ambitious reform plans,” said Orsalia Kalantzopoulos, World Bank Director for Central European and the Baltic Countries. “While the external environment is difficult and Poland is not immune to this, we have confidence in the government’s economic policies and are convinced that this loan will further strengthen planned reforms.” The loan will be accompanied by a program of technical cooperation and knowledge sharing in the policy areas supported under the loan to complement and extend the existing reform plans and priorities. “The World Bank has always been a close partner of Poland in supporting its successful transformation and EU integration, both by helping design and implement policies and institutional reform, and by addressing the social costs of transition,” said Katarzyna Zajdel-Kurowska, Under-Secretary of State in the Polish Ministry of Finance. “The new World Bank loan is the result of our continued excellent partnership that benefits both sides through sharing of knowledge and experience.” The loan will be signed tomorrow, December 23, 2008, at the World Bank Office in Warsaw. Since 1990, when Poland began borrowing from the World Bank, the Bank’s total commitments to the country have reached approximately US$ 6.2 billion for 44 projects. - #### - For more information about the World Bank in Poland, please visit www.worldbank.org.pl