The Science and Innovation Framework Loan will support projects that are included in Poland's current and future Research and Innovation Investment Programmes. The EIB loan will fund budgetary allocations of the State and thus contribute to the realisation of selected science and innovation investment projects.

The EIB loan will provide long-term finance to ensure the smooth implementation of the Government's priority investment projects.

Poland is committed to contributing significantly to the EU's Lisbon Strategy, which aims to make Europe the world's most innovative and competitive region by fostering R&D and innovation. Polish R&D spending by both government and businesses is low by international standards and, due to budgetary constraints, has even been on a declining trend in recent years. This needs to be reversed.

When signing the loan contract, the EIB's President, Philippe Maystadt, said: In the longer term, investment in human capital and R&D are the key to economic and social progress. For this reason, the EIB lends strong support to the EU's Lisbon Strategy. It is committed to financing investment in R&D and innovation with loans worth EUR 40 billion in the period up to 2010. We are pleased to support public investment for R&D in Poland and thus assist the country in improving essential research capabilities, enhancing academic infrastructures and harnessing technological innovations.

The Lisbon European Council in 2000 made a firm commitment to increasing support for research and innovation dissemination in the European Union and establishing a knowledge-based society in Europe to a greater extent. To underpin the implementation of the Lisbon Strategy, the Bank finances R&D in the private sector and in universities and supports the marketing of R&D results and the use of new technologies. It focuses on the introduction of information and communications technologies (e.g. covering hardware, content and applications) as well as the upgrading of education and lifelong training facilities. The Bank's financing in this area aims at better utilisation of the research capacities of various R&D institutes in the old and new Member States, making use of long-existing industrial and R&D cultures and capabilities.