- Poland last year received nearly €5.1 billion in financing from the EIB Group
- Investment targeted for regional development, clean energy and business growth
- Energy-transition support under REPowerEU grew 80% compared with 2022
- Green and pro-climate financing reached 52% of EIB Group investment in Poland
The European Investment Bank (EIB) Group showed its strong commitment to financing in Poland by extending a total of almost €5.1 billion in the country in 2023, broadly in line with the previous year’s (2022) total of €5.45 billion. Support last year amounted to €4.67 billion from the EIB and €632 million from the European Investment Fund (EIF), with €255 million in overlapping projects.
Financing for Poland’s energy transition jumped 80% to €1.78 billion. Other major beneficiaries were Polish public entities, including regions and cities, with €2.33 billion in support along with small and medium-sized enterprises (SMEs) as well as mid-caps with €633 million in financing. Moreover, €360 million has been directed towards supporting innovations and human capital. Of the total, green and pro-climate financing’s share rose to 52% from 49% in 2022.
“The EIB is actively contributing to the sustainable transition of the energy sector,” said Vice-President Teresa Czerwińska. “The EIB is also instrumental in fostering innovation and promoting the development of SMEs. With these investments the EIB aims to safeguard jobs, stimulate economic growth, and fortify Poland's position in the EU economic landscape.”
“The current challenges we all face - from the energy transformation, counteracting the effects of climate change, through improving the competitiveness of European economies, to the need to radically increase Europe's defence readiness - mean that EU member states must act quickly and in solidarity. The European Investment Bank has been active in many of these fields for many years and I am sure it will continue to be so. We are particularly counting on cooperation with the EIB in the area of financing defence and security needs. This topic is an element of talks at the level of EU leaders and Ecofin Council meetings. - said Minister of Finance Andrzej Domański.
The RePowerEU and InvestEU initiatives contributed to the financial support last year in Poland.
Of the €1.78 billion for the energy transition, €610 million came partly through InvestEU to support the development of one of the world's largest wind farms (and the first one on the Baltic Sea) by Baltic Power. Furthermore, PGE and Enea received PLN 1.4 billion and PLN 1 billion, respectively, for the development of the energy-distribution network. All the projects were of strategic importance, aligning with the REPowerEU plan to bolster clean-energy capacity, enhance the European Union's energy independence and improve energy efficiency.
To improve energy efficiency in Poland, the EIB offered a range of financing including PLN 1.5 billion to the Biedronka chain of supermarkets The support will make the shops more environmentally friendly by upgrading the buildings and enabling other technical advances. The EIB also extended financing of €104 million to food manufacturer Maspex for modernizing its production plants.
To support public and private entities in this area, the EIB initiated a European Local ENergy Assistance, or ELENA, programme providing technical support for energy-efficiency and renewable-energy investments in buildings and urban transport. Among ELENA’s activities in 2023 was aid to Polish energy-equipment company Mazovian Energy Agency to prepare around 100 public buildings for major energy-efficiency upgrades and the installation of renewable-energy systems for heat and electricity generation.
In the 2019-2023 period, the EIB Group's total investment in the transformation of the Polish energy sector totalled €4.75 billion.
Elsewhere under InvestEU, the EIB supported business innovation in Poland last year through agreements with Polish medical-device company SDS Optic covering breakthrough cancer-detection technology and with furniture designer Tylko to strengthen research and development.
Over the past five years, the EIB Group's investment in innovation, digitalization and human capital in Poland has amounted to €4.3 billion.
Polish regions and cities have become greener and more inclusive with EIB Group support.
In 2023, the EIB fostered sustainable development in Polish cities, regions with financing that amounted to €2.33 billion. This support was directed towards projects in locations including Tychy, Dąbrowa Górnicza, Szczecin, Kraków, Wrocław and Gdańsk.
One major example was a €33 million financing agreement to modernize Kraków’s tramways. Another accord in Kraków offered PLN 244 million to Jagiellonian University for building and fitting out teaching and research facilities on its medical campus – Collegium Medicum.
In the area of ground transport in Poland, the EIB last year intensified collaboration with Bank Gospodarstwa Krajowego over the modernization of Polish roads that are part of the Trans-European Transport Network (TEN-T).
The EIB provided €450 million for the construction of the S6 expressway connecting the city of Koszalin and village of Bożepole to facilitate mobility in the region. In parallel, the EIB allocated an additional €450 million to underwrite the construction of the A2 Motorway between city of Mińsk Mazowiecki and city of Biała Podlaska. These investments not only aid the development of infrastructure but also align with the EIB's overarching mission to support key projects that drive economic advancement and connectivity in Poland.
In other activity helping Polish regions last year, the EIB’s Joint Assistance to Support Projects in European Regions – or JASPERS – programme supported initiatives in water management, flood mitigation and transport emission cuts.
In 2019-2023, the EIB Group’s investment in sustainable regional development totalled €11.91 billion.
EIB Group support for SMEs and mid-caps in Poland last year reinforced their role as drivers of Polish economic development.
A total of €633 million in EIB Group financing supported more than 47 700 Polish SMEs and mid-caps and sustained almost half a million jobs. Agreements with Pekao Leasing, Europejski Fundusz Leasingowy and Credit Agricole facilitated financing for green investments, innovation, and women entrepreneurs. In addition, EIF investments in the Polish venture-capital market to support the most innovative companies in Poland totalled €153 million in 2023.
In 2019-2023, the EIB Group’s support to SMEs and mid-caps amounted to €6.62 billion.
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.
All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank's commitment to fostering inclusive growth and the convergence of living standards.
