EIB: We are targeting at least €5.45 billion in financing for Poland in 2023

by   CIJ News iDesk III
2023-03-10   17:28

It is the intention of the European Investment Bank (EIB) Group that project financing in Poland this year will at least remain at last year's level, which amounted to €5.45 billion, EIB Vice President in charge of the bank's operations in Poland Teresa Czerwinska said. The focus of the group's special attention is the transport and energy sectors, she stressed.

"As for the bank's budget and intentions for Poland for this year, we do not budget specific amounts, it is an annual commitment plus a margin of flexibility. On the other hand, I can say that our ambition is to maintain financing at least at the current level, so that the value of the portfolio this year is at least €5.45 billion, but I hope for more. The objects of our special attention are the transportation and energy sectors," Ms. Czerwinska said at a press conference.

She stressed that it is necessary to accelerate the energy transition, and this is impossible to achieve in the short term without innovation and digitalization. That is why the EIB Group is focusing its efforts in this area on finding projects even at a very early stage of development so that they can "grow in Europe and serve Europe."

"We have addressed the package to support the energy sector - that is, we are allocating funds for special projects not only in the area of innovative energy sources, but also for the so-called scaling of available technologies. Because many technologies in energy today are familiar to us. The problem is that the price of energy that could be available from these technologies for the time being is too high. Therefore, we would like to make technologies such as hydrogen technologies cheaper, to be more affordable in terms of use," the vice president added.

Other priorities include continuing to support cities and regions in the area of sustainable development, with the EIB Group paying particular attention to sustainable transport - passenger, but also rail and freight transport within the country and through regional corridors, including transport from Ukraine through Poland and Slovakia.

The European Investment Bank is the European Union's long-term financing institution, owned by its member states. The bank finances investments that contribute to the EU's policy goals, including a global just transition leading to climate neutrality. The EIF, a subsidiary of the EIB, is Europe's largest venture capital and private equity financier.

Source: EIB Group and ISBnews