The European Investment Bank has agreed to lend SG Equipment Leasing Polska (SGEF Poland) €100 million ($111.62 million) to support small and medium-sized enterprises (SMEs) in Poland.
The move is set to unlock a total of €200 million in new loans, with a large portion earmarked for climate action and sustainable development.
At least 20% of the funds provided by the EIB will be allocated to environmental initiatives, including those aimed at reducing greenhouse gas emissions.
The financing will facilitate investment in environmentally friendly vehicles, industry and agricultural machinery, as well as renewable energy projects.
The agreement stipulates that 90% of the loan granted to the State Investment Fund of Poland will finance SME projects, while the rest will support public sector initiatives.
“SMEs are the cornerstone of our economies and supporting them is one of the EIB’s key mandates,” said EIB Vice-President Tereza Cervinska.
“Another priority is to help close the investment gap towards achieving the EU’s climate goals, which in Poland’s case often take the form of energy transition and reducing greenhouse gas emissions. This agreement, concluded under our long-standing partnership with SGEF Poland, responds to both needs.”
Last year, the EIB Group allocated more than half of its €5.1 billion financing in Poland to climate-friendly projects. Over €630 million of this financing supported small and medium-sized enterprises, helping nearly 47,700 companies and preserving nearly 450,000 jobs.
In line with the strategy of its parent company Société Générale, SGEF Poland is committed to financing sustainable investments and investments in the energy transition.
“Our long-standing cooperation with the European Investment Bank demonstrates our commitment to supporting the real economy. Our core business is financing small and medium-sized enterprises,” said Olivier Rambert, CEO of the Polish State Finance Institution.
“The alignment of the EIB’s mission and the vision of the State Investment Fund in Poland is once again demonstrated by this new financing.”
“EIB provides $111 million to support SMEs and green initiatives in Poland” Originally created and published by life rentala trademark owned by GlobalData.
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