The World Bank, showering praise on Poland’s economic reformers, signed a $300-million loan today to support structural change in the once-Communist state.
Bank representative Ian Hume said at the signing ceremony that Poland is pursuing “one of the most courageous, one of the most intense and one of the most fundamental economic reform programs in the modern history of economic management.”
The structural adjustment loan, which Hume signed with Deputy Finance Minister Marek Dabrowski, brings the bank’s commitments to Poland in the last year to more than $1 billion.
It is only the second such loan the bank has made to an Eastern European country since last year’s collapse of communism in the region. The first went to Yugoslavia earlier this year.