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Poland - Hard Coal Sector Adjustment Loan Project (English)

The Hard Coal Sector Adjustment Loan is to support the government's Hard Coal Sector Restructuring Program, and the implementation of socially acceptable and effective employment restructuring (which includes addressing the needs of miners leaving the industry, ensuring adequate funding of social support activities, safeguarding a transparent flow of funds, and helping unemployed workers find jobs). The benefits of the project include: a) It will stem the losses of the coal companies and eventually turn a money losing state controlled sector into a competitive and profitable private industry; b) from the point of view of society, the immediate beneficiaries of the Program will the miners and their immediate dependents; c) the population of the mining regions will benefit from the continued social peace and employment opportunities; and d) the Polish people will indirectly benefit through improved economic performance and an assurance that their tax payment are being applied to constructive needs rather than to propping up a loss-making industry. The major risks include: 1) implementation may slow down due to continued unwillingness of mine management to close capacity; 2) a lack of sufficient funds to meet the demand for social packages in 1999 will compound the first risk; 3) the companies may fail to be profitable; and 4) companies may be slow to implement high priority environmental improvements. These risk are addressed in the program design and implementation.

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Poland - Hard Coal Sector Adjustment Loan Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/123231468094784998/Poland-Hard-Coal-Sector-Adjustment-Loan-Project