- The EIB and the Polish Ministry of Finance sign €600 million agreement to reinforce economic development in Poland
- This financing comes on top of EU grants
The European Investment Bank (EIB) is extending a €600 million loan to the Republic of Poland to bolster the Polish economy. Investments supported with this financing will spur digital and social development, supplementing European Union grants.
“This agreement is strategically aligned with the objectives of fostering innovation, advancing smart-economy development, creating new employment opportunities and reinforcing Poland’s competitiveness on the global stage. The Bank is dedicated to enhancing the economies of EU member states, and another significant agreement with the Republic of Poland strengthens Poland’s position among the EIB’s most important clients,” said EIB Vice-President Teresa Czerwińska.
The EIB financing will complement EU grants as well as funding from private sources and public contributions. This strategic collaboration positions the EIB as a pivotal contributor to the effective utilisation of European Commission grants.
“This agreement is another example of our excellent cooperation. These investments will strengthen the competitiveness of our economy in the long term. The EIB not only provides long-term financing, but also provides expert assistance, which is crucial in the process of project preparation," said Poland’s Minister of Finance Andrzej Domański.
The impact of the agreement will be multifaceted, directly contributing to the European Union’s economic, social and territorial cohesion. It will play a key role in augmenting research and development, fostering innovation-enabling infrastructure and enhancing knowledge and skills in Poland.
The agreement is also designed to contribute to sustainability by protecting the environment, biodiversity and ecosystems.
This initiative follows two operations similar in nature: EU Funds Co-financing for the period 2007-2013 and EU Co-financing for the period 2014-2020, confirming a continued commitment to collaborative efforts for the economic and social development of Poland.
Background information
The EIB has been working in Poland since 1990, channelling more than €93.09 billion in financing for projects that support the country’s economy. 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.
