Poland: EIB supports research and development with almost EUR 1 billion

President of the European Investment Bank (EIB) Werner Hoyer and Polish Minister of Finance Mateusz Szczurek signed today two loan agreements providing Poland with EUR 940 million for research, development and innovation activities in research institutes, universities and enterprises. During his official visit to Poland, President Werner Hoyer also discussed with the Minister the Investment Plan for Europe to be implemented by the EIB in Poland and across the EU via the European Fund for Strategic Investments (EFSI).

Mateusz Szczurek, Minister of Finance, commented, “The EIB remains our main partner among the international financial institutions. I am therefore very happy to sign these two new loan agreements, which will provide financing for much-needed projects in the area of research and development. The EIB provided EUR 5.5 billion in loans to Poland in 2014 and is expected to provide the same level of support this year. The EIB not only provides long-term financing on favourable terms but also its expertise, which is crucial in preparing projects in such areas as R&D. Moreover, Poland looks forward to continuing the close cooperation with the EIB, which also concerns the deployment of the European Fund for Strategic Investments (EFSI) in Poland. We trust that the EFSI will enable the EIB to extend its normal operations to higher risk profile projects. We also count on the EIB’s technical assistance for Polish project promoters, stepped up through the European Investment Advisory Hub.”

EIB President Werner Hoyer said, “Financing innovation and skills is a priority for the EU bank. Innovation plays a key role in driving growth in Europe, ensuring its long-term competitiveness and creating high-value jobs. I am delighted to sign loans today that will continue to support Poland’s strategic science and innovation policy. We aim to strengthen research, promote efficiency, foster better links between research and industry, and leverage more private investment for applied development and innovation activities in Poland and across Europe”.

An EIB loan of EUR 520 million will finance the statutory research tasks performed by all categories of scientific and academic staff employed by Polish public universities and research institutes in the majority of scientific disciplines. Through this loan, the EIB will also support investment by the Polish Ministry of Science and Higher Education in public research and development (R&D) infrastructure and scientific equipment.  

The EIB is lending a further EUR 420 million for R&D project grants, which will be awarded by the National Science Centre and the National Centre for Research and Development through open invitations to PhD students, post-doctoral fellows and senior scientists. These projects will concern either basic or applied research and will be implemented in public research institutes, universities and enterprises across Poland. The main objective of this EIB financing operation is to leverage applied R&D carried out by enterprises and the innovative activities of companies, as well as to foster better links between research and industry.

Some 150 000 researchers, technicians and other research support staff work in the Polish public science sector. Both projects will be carried out in 2015 and 2016 and will not only help to maintain current employment in the R&D sector in Poland during this period but, more importantly, will open up a great number of new career opportunities, in particular for young researchers.

Together with the 12 previous loans extended since 2004 to co-finance the Polish science sector, the loans signed today underpin the EIB’s long-term commitment to support Polish research, development and innovation programmes for various levels and disciplines.

Thanks to the competitive EIB funding terms and a long loan tenor, Poland will benefit from lower financing costs for these projects, thus increasing its financial flexibility and investment capacity in support of R&D investments. This financial contribution made by the EIB will help the science and higher education sector reduce the gap between Poland and the EU-27 in terms of innovativeness and excellence. As a result of this R&D financing, research units will receive the tools necessary for them to become more competitive in science and education. The higher education institutions on the other hand, whose priority is not only to teach students but also to prepare them to meet the needs of the employment market, will benefit from better scientific infrastructure as well as higher-quality scientific teaching staff.