EUROPEAN COMMISSION
Strong support for sustainable urban and regional development and continued financing of the energy transition: the EIB Group's activity in Poland in 2022

• Support for sustainable urban and regional development increased to 3.19 billion in 2022
• Poland, as the country hosting the greatest number of refugees of the war in Ukraine, received half of the EIB's solidarity package 2 billion in total
• The EIB Group continued to finance the energy transition in Poland, providing 996 million of funding in total
• The share of green projects within the Bank's total volume of financing increased to 49%

In 2022, the EIB Group's (European Investment Bank, European Investment Fund) financing agreed for projects in Poland reached 5.45 billion, with almost half of the new commitments (49%) devoted to climate action and environmental sustainability. Over the course of the year, the Group continued its support in four priority areas: sustainable development of cities and regions; sustainable transformation of the energy sector; development of digitalisation, innovation and human capital; and development of small and medium-sized enterprises and mid-cap companies.

Vice-President of EIB prof. Teresa Czerwińska commented: "2022 has presented us with completely new challenges. EU economies had to deal with the effects of Russia's aggression against Ukraine, the energy crisis, inflation and the still-felt impact of the pandemic. The EIB responded immediately by mobilising financing for Ukraine and support for EU countries hosting refugees - Poland, which has given shelter to the largest number of refugees, has been granted more than 2 billion from the Solidarity Package. Despite very difficult conditions, the EIB maintained its support for the energy transition, backing the European Commission's initiative - RePowerEU - aimed at making the EU independent from Russian fossil fuels."

"The European Investment Bank, as the financial arm of the European Union, perfectly understands and fulfils its mission. Its involvement in the cohesion countries, including Poland, contributes to a faster levelling of opportunities between the regions and countries within the Union, and also has a positive impact on the competitiveness of our economies. I am also very grateful to Professor Teresa Czerwińska, Vice-President of the EIB, that the Bank has been involved in projects supporting Ukraine from the very onset of the war. I am confident that that the Bank will also fulfil its role during the period of reconstruction and modernization of the country, I hope, a future member of the EU". - said Minister of Finance Magdalena Rzeczkowska.

Sustainable urban and regional development

In 2022, a total of 3.19 billion in funding was agreed to support the sustainable development of Polish cities and regions. The EIB Group's funding has enabled both investment in and development of the green transformation of urban infrastructure in cities including Opole, Zielona Góra, Bielsko Biała, Wrocław, Warsaw, Gorzów Wielkopolski, Łódź, Rybnik and Rzeszów. In both Warsaw and Poznań, projects for greener and more efficient water management have been launched, receiving 298 million in financing.

A significant portion of the EIB Group's funding was allocated to the development of sustainable transport infrastructure, resulting in the city of Kraków finalising a public-private partnership (PPP) agreement with the Bank worth PLN 180 million. The project will be the first public-private partnership in Poland's urban transport sector, serving as a pioneering enterprise which can potentially be replicated by other local authorities. Additionally, the European Investment Bank has strengthened its cooperation with Poland's rail company, PKP Polskie Linie Kolejowe S.A., with 600 million in financing being utilised to develop and modernise the Polish railway network. In recent years, improvements to the railway network and modernisation of rolling stock have made rail travel more popular within the country and have prompted a migration from car to train travel, particularly for long-distance journeys.

This funding represents an ongoing commitment from the Bank: between 2018 and 2022, the EIB Group has contributed 11.82 billion to the development of Polish cities and regions.

Poland is primary beneficiary of the solidarity package

The EIB's solidarity package is a support provided within the framework of cohesion policy. The European Investment Bank has provided assistance, primarily to EU Member States, that are struggling with the migration crisis caused by the ongoing war in Ukraine. The EIB approved the 4 billion package in May 2022, with 2 billion of that sum being allocated to Poland. As a result of agreements signed by the EIB and BGK, Poland has already received two tranches totalling 1.2 billion, and this funding is enabling cities and regions hosting Ukrainian refugees to adapt to these refugees' needs by developing key infrastructure.

Continued support for energy sector transformation

The European Investment Bank and PGE Polska Grupa Energetyczna have signed a financing agreement representing PLN 2 billion of funding that will be used to modernise electricity distribution grid infrastructure. The funds will be used to invest in electricity lines, transformers, digital communication, energy storage and modern metering, enabling PGE's distribution network to connect to new sources of renewable energy. The EIB Group in 2022 committed 996 million to this sector and earmarked a total of 3.25 billion between 2018 and 2022 to assist the transformation of Poland's energy sector.

Financing digitalisation, innovation and human capital development

In 2022, the EIB provided 560 million in support for digitalisation and innovations' sector, including 103 million to enable P4, the operator of the Play network, to expand and develop modern and innovative infrastructure. This investment is helping to eliminate inequalities in access to ultra-fast broadband services within the country. Between 2018 and 2022, the EIB Group's support for digitalisation and innovation within Poland amounted to 4.65 billion.

Small and medium-sized companies and mid-caps are a key engine in the Polish economy

In 2022, the EIB Group provided 695 million in financing for SMEs and mid-caps, facilitating support for 69 192 companies and sustaining 650 888 jobs.

Agreements signed with Bank Pekao, Bank Millennium, Santander Bank Polska, BNP Paribas and Societe General enabled Polish businesses to access a wide range of financing, facilitating their investment in energy-efficient solutions, digitalisation, innovation and human capital development. Between 2018 and 2022, EIB Group financing for entrepreneurship in Poland amounted to 7.03 billion.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It provides finances to sound investments that contribute to EU policy objectives. The Bank supports projects in four priority areas infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs).

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access financing. The EIF designs and develops venture and growth capital, guarantees, and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.