- EIB lends €100 million to SGEF Poland to support small and medium-sized companies.
- SGEF Poland to generate new financing worth twice loan value.
- Deal is part of EU Sustainable Finance Days 2024 and includes at least €40 million for climate action.
The European Investment Bank (EIB) is lending SG Equipment Leasing Polska (SGEF Poland), a unit of France-based Société Générale, €100 million to support the development of small and medium-sized enterprises (SMEs). SGEF Poland will in turn provide new loans totalling €200 million.
At least a fifth of the financing is to boost climate action including cuts in greenhouse gas emissions. The funds will be used to invest in low-emission vehicles and machinery for industry and agriculture, as well as in renewable energy.
“SMEs are the cornerstone of our economies and supporting them is one of the EIB’s key tasks,” said EIB Vice-President Teresa Czerwińska. “Another priority is to help fill the investment gap towards achieving EU climate objectives that, in Poland’s case, often take the form of energy transition and reductions of greenhouse gas emissions. This agreement, sealed under our long-standing, proven partnership with SGEF Poland, responds to both these needs.”
Under the accord, 90% of the loan to SGEF Poland will be used to finance projects carried out by SMEs while the rest will support the public sector. The EIB Investment Survey (EIBIS) found that, in 2023, SMEs in central and eastern Europe were the businesses most concerned about restrictions in access to financing.
The agreement also requires that at least 20% of the total be allocated to climate action. The accord is part of the EU Sustainable Finance Days 2024, an awareness-raising initiative around European Union support available to entities – including financial institutions, companies, municipalities and universities – that invest in sustainable development.
This marks the 10th agreement between the EIB and SGEF Poland under a partnership dating to 2010.
“Our long-lasting cooperation with EIB demonstrates our commitment to support the real economy. Our core business is to finance small and medium-sized enterprises. The support of EIB also enables to support our development in the financing of new energies and sustainable solutions. The alignment between EIB mission and SGEF Poland vision is demonstrated once again with this new funding,” said SGEF Poland CEO Olivier Rambert.
More than a half of the nearly €5.1 billion of EIB Group financing in Poland in 2023 was assigned to climate-friendly projects. The bank allocated over €630 million to SMEs, supporting more than 47,700 Polish companies and helping maintain almost 450,000 jobs.
SGEF Poland pursues the strategy of its parent company: to finance investment in sustainable development and the energy transition. The current agreement will allow SGEF Poland to amplify its efforts in his whole area.
Background information
The European Investment Bank (EIB) is an institution of the European Union that provides long-term financing for sound investment projects that help implement EU priorities. The EIB’s shareholders are the Member States. The Bank works to enhance economic competitiveness, stimulate innovation, promote sustainable development, strengthen social and territorial cohesion, and support a fair and rapid transition to climate neutrality. The EIB is on track to meeting its goal of mobilising €1 trillion of climate investment by the end of this decade.
SG Equipment Leasing Polska (SGEF Poland) is part of the Société Générale group headquartered in Paris. As one of the largest leasing groups in Europe, our aim is to be "the worldwide partner for integrated equipment solutions creating sustainable and positive impact for the planet." In Poland, SGEF focuses on the financing of machinery and equipment (financing in the form of leasing or loans) in 5 sectors: agriculture, transportation, aviation & specialized financing sector, industry, and technology (IT and green energy).