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    Reference: 20210381
    Release date: 25 June 2021

    Promoter – Financial Intermediary

    BANK OCHRONY SRODOWISKA SA

    Location

    Description

    Intermediate finance support for small and medium-sized projects promoted by small and medium-sized enterprises (SMEs), mid-caps and public sector entities in Poland presenting a significant Climate Action and Environmental Sustainability (CA&ES) component.

    Additionality and Impact

    The Project concerns the financing of small and medium-scale eligible projects carried out by SMEs, Mid-Caps, including Home Owners Associations, and Public Sector Entities.


    It contributes to the EIB's public policy objectives on providing access to finance to small and medium-sized companies. Moreover, as the underlying projects mainly focus on energy efficiency measures in buildings and renewable energy projects, it also contributes to achieving the decarbonisation targets set out in the 2030 National Energy and Climate Plan of Poland.


    Overall, the project is expected to yield good quality and results, due to its strong focus on financing Climate Action and Environmental Sustainability (CA&ES) investments addressing carbon and air pollution externalities. As a result, overall the Project can contribute to the development of the Polish financial market and positively stimulate domestic economic recovery, with a strong contribution to sustaining employment in Poland's Cohesion regions.


    The Intermediary is well-placed to deploy the Project based on its previous long-standing experience with EIB's intermediated loan facilities, as well as its strong expertise and internal capacity designed to deploy significant volumes of CA&ES-targeted financing. Through this facility, financial support will be provided, contributing to improved financial conditions in terms of pricing and maturity for all types of eligible final beneficiaries.


    EIB's contribution is further strengthened through its non-financial support in the form of technical advice regarding alignment with the EU taxonomy for sustainable activities. In addition, an ELENA (European Local Energy Assistance) application is under development to further support the Intermediary with technical assistance in relation to this Project.

    Objectives

    Providing support to financing small and medium-sized projects carried out by SMEs, mid-caps and public sector entities (PSEs) in Poland, with a CA&ES profile.

    Comments

    N/A

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment, social and public procurement, the Bank will require such intermediary institution to take all the requisite measures to ensure that the environment, social and procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances will comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Signed - 28/10/2021

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Poland Credit lines