The European Investment Bank (EIB) is lending EUR 700 million to Poland for key investments in research, development and innovation aimed at supporting Poland’s administration and economy in its drive to become more digital and knowledge-based. The development of transport infrastructure in Eastern Poland will also be backed by this EIB financing. This operation will help Poland to ensure the successful absorption of EU structural funds.
On this occasion, László Baranyay, EIB Vice-President responsible for lending in Poland, stated: “With this support for key investments, the EIB, the bank of the European Union, is stepping up its efforts to strengthen the competitiveness of the Polish economy and promote the effective use of the EU grant funds foreseen for Poland. We are building on the excellent cooperation with the Polish authorities and joining forces with the European Commission to support a large number of projects contributing to sustainable economic growth and a better quality of life for the people of Poland.”
The EUR 700m loan will be earmarked for selected investments under four of the Polish national operational programmes: “Smart Development”, “Digital Poland”, “Knowledge Education and Development”, and “Eastern Poland”. The Smart Development operational programme focuses on increasing the involvement of the private sector in research, development and innovation. The Digital Poland operational programme promotes the information society and aims to ensure equal access to information and communication technologies, including the development of e-government and e-commerce. Within the Knowledge Education and Development operational programme, the EIB will back the development of education and the knowledge economy, in particular vocational training and higher education to facilitate access to employment. The EIB involvement in the operational programme for Eastern Poland will improve the economic fabric and support sustainable transport in the region. These investments backed by the EIB aim at improving the efficiency of administration, increasing private sector involvement in RDI and promoting the general use of ICT, which will enhance Poland’s economic competitiveness and boost the demand for skilled labour.
The EIB loan provided to the Ministry of Finance will result in financial value-added for Poland deriving from the long maturity of the loan combined with its attractive pricing and will facilitate the effective delivery of funds to investments under the selected operational programmes. The EIB’s relationship with Poland dates back to 1990 when the first projects guaranteed by the state were financed by the Bank. The Ministry of Finance is a regular counterpart of the Bank, acting both as a borrower and a guarantor.
In line with the European Consensus on Development and the UN Sustainable Development Goals, the agreement will facilitate global cooperation in response to exceptional circumstances such as the current COVID-19 crisis.
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