Signature(s)
Summary sheet
- Credit lines - Credit lines
The project consists of a guarantee (synthetic securitisation) covering the intermediary's existing portfolio of consumer loans to small and medium-sized enterprises (SMEs) and mid-caps as well as private individuals in Poland.
The aim is to enhance access to finance to the targeted final beneficiaries. More specifically, it will support their investments in renewable energy, energy efficiency and sustainable transport (electric vehicles). Consequently, as a "green securitisation", the operation will fully contribute to the EIB's Climate Action & Environmental Sustainability objectives.
In alignment with the EU and the EIB priorities, the Project targets investments in SMEs and Mid-Caps. Through an intermediated approach, the EIB will reach small and mid-sized sub-projects that would otherwise be difficult to access directly. In addition, the Project targets investments in renewable energy and energy efficiency, primarily undertaken by private individuals in Poland.
The Project addresses market failures in access to finance, particularly in less-developed regions where financial constraints are more pronounced. It supports lending to SMEs, Mid-Caps and private individuals typically underserved due to asymmetric information and high screening costs, helping to close the financing gap exacerbated by elevated interest rates. In addition, the Project addresses market failure in environmental externalities by financing renewable energy and energy efficiency measures (photovoltaics) and zero-emission transport solutions (electic vehicles). These investments contribute to reduced greenhouse gas emissions, improved air quality, and lower noise levels, while also generating social benefits such as job creation and enhanced public health.
The Project is strategically aligned with the European Green Deal, REPowerEU, and Poland's Integrated National Energy and Climate Plan. It supports the EIB's Climate Action and Environmental Sustainability (CA&ES) objectives, with the entire lending volume expected to be eligible under CA&ES criteria.
The Operation will further promote the synthetic securitization transactions and green securitisations and as such it also contributes to the development of financial markets in Poland. Building on the Intermediary's good track record, it is expected that EIB funds be utilized in an efficient and timely manner. Thanks to EIB's involvement, the Financial Intermediary will be able to provide long-term financing solutions to final beneficiaries at a lower cost, an important advantage in the current high-interest rate environment.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.