Release date: 25 May 2022
Promoter – Financial IntermediaryPUBLIC ENTITY(IES)
Financing of the aid fund created by the Polish Government and managed by Poland's National Promotional Bank to provide assistance to refugees from Ukraine.
Additionality and Impact
This Operation supports the achievement of most UN Sustainable Development Goals and it supports investments related to the adoption of the Temporary Protection Directive. As most of the schemes are foreseen to be located in less-developed regions, under the EIB's Cohesion priority regions objective, the Operation contributes to the EU Public Policy Goal of Economic and Social Cohesion and EU Gender Equality. The investments are expected to be in line with the provisions of the 2020 New Leipzig Charter, the EU Urban Agenda, the 2022 Nice Declaration, the EU Energy Performance of Building Directive and the EU Green Deal. In addition, the Operation will adhere to the EIB's Environmental and Social Standards, which specify the requirements in alignment with the rights and principles of the Fundamental Conventions of the International Labour Organisation (ILO) and the European Pillar of Social Rights. Furthermore, the Operation is aligned with the EIB Urban Lending Review, the EIB Transport Lending Policy, the Bank's new Energy Lending Policy as well as the EIB Group Climate Bank Roadmap 2021-2025 and the EIB Gender Equality Strategy and Action Plan. Its contribution to the Bank's Climate Action & Environmental Sustainability objectives is estimated at approx. 30% of the total cost.
The schemes will support the implementation of public policy objectives in support of municipal, regional and national strategies, thus contributing to integrated territorial development. The Framework Loan contributes to address identified market failures and will generate positive externalities thus contributing to improvements in the quality of life and social inclusion of residents and the refugee communities. Therefore, the Operation is eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest.
The funding offered by the EIB will address the specific needs of BGK and of the Aid Fund, due to its tenor, availability in EUR and customised terms (tenor, grace period, sculpted repayment). It will be innovative, as being the first time the EIB is subscribing bonds issued by BGK. It will complement and facilitate the deployment of the State funding that co-finances the projects. In addition, the advisory services offered by the EIB will benefit the promoters, the implementation of the projects and as well their impact on local communities.
The operation supports the efforts of Poland aimed at responding to the Ukrainian conflict and the current refugee crisis. In particular, the operation is expected to support investments in social infrastructure related to the adoption of the Temporary Protection Directive, which was triggered for the first time by the European Council to offer quick and effective assistance to people fleeing the war in Ukraine. In addition to this, the operation supports the achievement of most UN Sustainable Development Goals but particularly "Ensuring access for all to adequate, safe, and affordable housing and basic services." The operation is expected to be in line with the provisions of the 2020 New Leipzig Charter, the EU Urban Agenda, the 2022 Nice Declaration, the EU Energy Performance of Building Directive and the EU Green Deal. In addition, the operation is aligned with the EIB Urban Lending Review, the EIB Transport Lending Policy, the Bank's new Energy Lending Policy as well as the EIB Group Climate Bank Roadmap 2021-2025. The operation is expected to result in climate action benefits, including mitigation, adaptation and environmental sustainability components. It is expected that most of the underlying operations will be located in less-developed regions, therefore falling under the EIB's Cohesion priority regions objective and contributing to the EU Public Policy Goal of Economic and Social Cohesion. The operation is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest.
The Promoter will undertake actions in order for the final beneficiaries to ensure that schemes, if applicable, are in line with the EU Directive 2013/33/EU of The European Parliament and of The Council of 26 June 2013 laying down the standards for the reception of asylum seekers including freedom of movement, families, vulnerable groups, medical screening, healthcare, schooling, education and vocational training and as well with the respective applicable Polish law implementing the referred Directive.
- Services - Public administration and defence; compulsory social security
Proposed EIB finance (Approximate amount)
EUR 2000 million
Total cost (Approximate amount)
EUR 2425 million
The Bank will undertake actions in order for the Promoters to ensure compliance with the EIA Directive 2011/92/EU as amended by Directive 2014/52/EU as well as Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively) and as well with the respective applicable Polish law implementing the referred Directives.
The Bank will undertake actions in order for the Promoters to ensure that contracts for implementation of the projects will be tendered in accordance with the EU procurement legislation Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU and with the respective applicable Polish law implementing the referred Directives, with publication of tender notices in the Polish Public Procurement Bulletin and in the Official Journal of the EU, as and where required.
Signed - 27/09/2022
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).