CASA POLAND LOAN FOR MIDCAPS

Promoter – Financial Intermediary

CREDIT AGRICOLE BANK POLSKA SA

Location

• Poland

Description

The operation is aimed at financing small and medium sized investments carried out by mid-caps in Poland. The operation features a climate action and environmental sustainability component of at least 30%.

Additionality and Impact

The EIB loan will provide funding to CASA to enhance access to finance and financing conditions for Polish small Midcaps, with at least 30% dedicated to climate action and environmental sustainability (CA&ES) projects like renewable energy (solar & biogas) and energy efficiency. 

This addresses market failures in access to finance for Midcaps in Poland, exacerbated by the Ukraine war's economic impact. The operation supports Polish Midcaps' green transition, aligning with EU and national energy targets for renewable energy (RE) and energy efficiency (EE) as well as the Bank's CA&ES objectives (30%). The operation is aligned with the EU Directives for Energy Efficiency and Renewable Energy and will also support the REPowerEU+ Action Plan.

EIB's intervention allows CASA Group to offer more favorable terms and financial conditions to final beneficiaries while increasing climate action financing in Poland. The funds are expected to be allocated efficiently, including in cohesion regions (according to the Bank's assumptions based on GDP), leveraging Crédit Agricole Group's experience with EIB products, including those with a CAES component.

By improving Midcaps' access to finance for projects supporting the energy transition in less developed regions, the operation is eligible under Article 309(a) of the TFEU, as well as under Article 309(c) projects of common interest (energy efficiency, renewable energy), tackling climate change.

Objectives

Financing of small and medium sized projects carried out by small mid-caps in Poland.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

not applicable

Environmental aspects

The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.

Procurement

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

Status

Signed - 17/12/2024