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    Pekao has signed an agreement with Wrocław MTC for the issue of bonds for half a billion zlotys

    Bank Pekao S.A. is organising an issue of bonds to finance Wrocław public transport. The investments planned for the years 2021-2025 include, among others, the modernisation of used trams and the purchase of new ones for the capital of Lower Silesia.

    The agreement, signed on Wednesday in Warsaw, will allow the city to significantly renew Wrocław’s tramlines on which the characteristic blue vehicles run. The value of the bonds issued will amount to PLN 457 million.

     

     

    “These funds will be used for the development of sustainable urban transport,” Jerzy Kwiecinski, vice president of Bank Pekao S.A., who oversees the corporate banking division, said after signing the documents.

     

    Among the investments planned by MTC (Municipal Transport Company) Wrocław is the purchase of 21 air-conditioned, low-floor vehicles, the modernisation of two tram depots, renovation of rectifier stations, modernisation of used cars and the acquisition of new trams to replace the oldest units.

     

     “The ambition of the Mayor of Wroclaw, Jacek Sutryk, and ours, as MPK, is to carry out a wide front of renovation and investment in the next three years.  So that from 2024 the inhabitants of Wrocław and more and more tourists visiting us can enjoy a new, better and sustainable public transport,” said Krzysztof Balawejder, President of the Municipal Transport Company in Wrocław.

     

    Electric trams are an energy-efficient, emission-free and therefore environmentally friendly transport solution. Thus, they perfectly fit into the idea of sustainable development. This was also stressed by Mariusz Noch, Director of the Public Sector Department at PKO BP, the other bank responsible for the bond issue.

     

    “This is a very important agreement for us, not only because of the amount but also for reasons that are part of our bank’s strategy, which is the strategy of sustainable development,” said Mariusz Noch.

     

    The Wrocław authorities intend to intensively develop local transport in the nearest future.

     

    “The city finances MTC, its current expenses, hence Mayor Jacek Sutryk made the decision that we are investing heavily in public transport,” said Marcin Urban, treasurer of the city of Wrocław.

     

    At the same time, he expressed hope that the investments launched thanks to the bond issue would significantly improve the quality of public transport.

     

    “We are glad that Polish cities, Polish local governments can use modern financial instruments – such as the issuance of bonds, also because such undertakings are part of the idea of sustainable development and make the quality of communication better and better,” summed up Pekao Vice-President Jerzy Kwieciński.

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