EU FUNDS CO-FINANCING 2021-2027 (PL)

The project consists of a co-financing with EU Funds of priority investments in 2021-2027 programming period.

The project is fully consistent with EU priority objectives. The role of EIB support is to facilitate the financing of the related operational programmes and support their implementation within the shared management policy and legal framework; and ultimately to support the achievement of i.a. the redress of regional imbalances, the implementation of the Pillar of Social Rights, and the strengthening of the economic, social, and territorial cohesion of the Union. Poland - outside of Warsaw region - is designated an EIB Cohesion Region. The project therefore supports the strengthening of the EU's economic, social, and territorial cohesion. As for the sectorial public policy goals of the EIB, the multi-sector project is expected to contribute to Innovation, Digital and Human capital (IDHC, 54%), Sustainable Cities and Regions (SCI, 19%), Sustainable Energy and Natural resources (SENR, 19%), and SME development (8%). In the area of IDHC, the projects will increase the level of RDI, innovation enabling infrastructure, education and training, and healthcare which will lead to positive spill overs throughout the national economy. Under SCI, the project will support balanced territorial development, including the upgrading, replacement and reorganisation of urban infrastructure and public facilities which will positively impact quality of life for inhabitants. Concerning SENR, the project will further unlock the potential for energy efficiency improvements and renewable energy. The project will also protect the environment, biodiversity, and ecosystems, and through climate adaptation and disaster prevention invest in more resilient infrastructure, which reduces the risk of harm to life, property, and public services in the event of disaster. Finally, the project eases financial constraints for SMEs that arise from information asymmetries caused by the lack of track record for such companies and high screening costs for small investments.

The Project concerns priority investments of 5 selected Operational Programmes of the EU Cohesion Policy funds of Poland: Smart Economy (FENG); Digital Development (FERC); Social Development (FERS); Eastern Poland (FEPW); and it also includes priority I & II (Climate and Environment) under the Operational Programme FEnIKS. The investment programme is plan-led and well-embedded in the EU Cohesion policy architecture centering around the five policy goals of a smarter, a greener, a more connected, a more social Europe and a Europe closer to citizens.

Specifically, the Project will support research, development and innovation activities whose returns to society are known to be larger than the financial return to the investor. The Project will also support education, health, lifelong learning and skills development, which will increase the economy's stock of human and social capital, reduce shortages of skilled labour and protect vulnerable persons from sliding into long-term unemployment. Investments in energy efficiency, preservation of the environment and disaster risk reduction will result in diverse positive externalities.

The Project fosters a balanced socioeconomic and territorial development of Poland, in line with the Territorial Agenda 2030. It will therefore contribute to the EU's policy objective of economic and social cohesion. The Project addresses sub-optimal investment situations in many sectors, increasing endowment with vital infrastructure essential to social and economic cohesion.

The EIB financing on favourable terms such as long tenors provides diversity in the financing structure and assists with the affordability of its public investment programmes, especially in light of recent market changes. The EIB loan co-finances the required national contribution in the investments supported by EU funds, which will help kick-start/accelerate the implementation of subprojects on the ground.

The project aims to support Poland in promoting economic, social, and territorial cohesion, supporting key EU priorities such as the green and digital transition, and contributing to the country's competitive, innovative, and sustainable growth. Investments in support of achieving the Union's 2030 energy and climate targets and the transition to a climate-neutral economy of the Union by 2050 under the Paris Agreement will result i.a. in reduced emissions, increased adaptability to climate change, and the protection of biodiversity and the environment. Under the Social objective, the project will target socio-economic inclusion of marginalised groups, active inclusion, equality of access to services etc., in support of implementing the European Pillar of Social Rights. The promoter will be required to act according to the provisions of the relevant EU Directives including, but not limited to, SEA (2001/42/EC), Environmental Impact Assessment (EIA) (2011/92/EU amended by Directive 2014/52/EU), Habitats (92/43/EEC) and Birds (2009/147/EC) Directives and Water Framework Directive (2000/60/EC) as transposed into national law.

The EIB will require the promoter to ensure that contracts for implementation of the project have been or will be tendered in accordance with the applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.