POLISH ACADEMY OF SCIENCES IV

Promoter – Financial Intermediary

REPUBLIQUE DE POLOGNE - MINISTRY OF SCIENCE AND HIGHER EDUCATION

Location

• Poland

Description

The project concerns the financing of the fundamental scientific activities of the institutes belonging to the Polish Academy of Sciences (PAS) in 2021-2022.

Additionality and Impact

The Project concerns the financing of the fundamental scientific activities of the institutes belonging to the Polish Academy of Sciences in Poland. The Project addresses a clearly defined market failure. The Project supports fundamental R&D activities performed in the institutes and scientific units belonging to the Polish Academy of Sciences for which the markets fail to provide adequate funds because knowledge externalities prevent the full capture of returns.

The Project is in line with EU and national strategies concerning research, economic and social cohesion, as well as climate action and environmental sustainability. The Project will produce more than 14000 scientific publications and is expected to generate more than 150 patent applications.

Simultaneously, the EIB loan will enable the State to increase its financial flexibility and capacity to support R&D investments.

Objectives

Poland is a moderate innovator. Although performance has improved over the past decade, Poland continues to score substantially below the EU average across important indicators such as public and private expenditure on research and development (R&D), the quality of scientific publications, the production of doctorate graduates and intellectual assets. By supporting the scientific research activities of the Polish Academy of Sciences, the project is consistent with the objectives of Horizon Europe and the European Research Area. The project also supports the implementation of Poland's strategy and commitment to further developing and improving scientific output, international scientific collaboration and the production of early stage researchers.

Sector(s)

• Services - Professional, scientific and technical activities

Proposed EIB finance (Approximate amount)

EUR 177 million

Total cost (Approximate amount)

EUR 354 million

Environmental aspects

The operation finances investments in intangible assets, that is, scientific knowledge generated through scientific activities of the research institutes belonging to the Polish Academy of Sciences. Due to the nature of the operation (financing mainly salaries of R&D staff), it does not fall under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU.

Procurement

The PAS is a public legal entity. The Bank will require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 22/09/2021