EIB and EIF Meet in Warsaw to Strengthen Financing Initiatives and Support Flood Recovery Efforts in Poland

EIB and EIF Meet in Warsaw to Strengthen Financing Initiatives and Support Flood Recovery Efforts in Poland

(IN BRIEF) The European Investment Bank (EIB) and European Investment Fund (EIF) Boards of Directors met in Warsaw on September 30 and October 1, 2024, to discuss new financing initiatives and reaffirm support for Poland following recent floods. EIB Group President Nadia Calviño emphasized the bank’s readiness to aid reconstruction efforts and enhance climate resilience financing in Poland and Central Europe. The discussions included plans for a deeper capital markets union and a partnership with Poland’s BGK to boost venture capital investments in innovative firms across Central and Eastern Europe. The EIB has committed nearly €100 billion to investments in Poland since 1990, and its ongoing projects have significantly impacted urban development in Warsaw.

(PRESS RELEASE) LUXEMBOURG, 2-Oct-2024— /EuropaWire/ — The European Investment Bank (EIB) and European Investment Fund (EIF) Boards convened in Warsaw on September 30 and October 1, 2024, to engage with local authorities and explore innovative financing solutions aimed at fostering economic growth across Europe. This significant meeting, held in Poland’s capital, emphasized the EIB Group’s dedication to supporting the nation, particularly in the wake of recent flooding events.

During the two-day discussions, EIB Group President Nadia Calviño met with Polish officials, including Finance Minister Andrzej Domański and Warsaw Mayor Rafał Trzaskowski. She reaffirmed the institution’s commitment to aid reconstruction efforts following the devastating floods and to enhance financing for climate resilience initiatives throughout Poland and Central Europe.

This gathering took place ahead of Poland’s upcoming presidency of the Council of the EU in the first half of 2025. A key focus of the meetings was on advancing a deeper capital markets union as mandated by Eurogroup. The partnership between Poland’s national promotional bank, BGK, and the EIB Group aims to bolster venture capital and private equity investments in innovative firms throughout Central and Eastern Europe.

“On behalf of the EIB Group, I express our solidarity with those impacted by the floods and our readiness to back resilience and adaptation projects,” stated President Calviño. She highlighted that the discussions produced positive outcomes regarding initiatives that will serve as foundational elements for a more robust capital markets union, thus enabling better allocation of savings into meaningful investments that benefit the European economy.

The talks also revolved around a recent mandate from EU finance ministers that instructs the EIB Group to seek out new financing instruments to facilitate access for small and medium-sized enterprises (SMEs) and innovators. The collaboration with BGK and NRI of the Czech Republic marks a significant step in this direction, as both banks have become anchor investors in an initiative led by the EIF to support growth-stage companies in the region.

In terms of ongoing projects, the EIB Group’s investment portfolio in Warsaw exceeds €2 billion, demonstrating the transformative effect of EU financing on urban development. The city has seen substantial improvements in sustainable public transport, water supply projects, and social housing, showcasing the EIB’s integral role in local and national growth.

Mayor Trzaskowski expressed his gratitude for the EIB and EIF’s commitment, stating, “Our collaboration with EU institutions is vital for supporting strategic investments, especially in challenging times like those we’ve faced during the pandemic and the ongoing conflict in Ukraine.”

Since 1990, the EIB Group has provided nearly €100 billion in support to investments in Poland, with significant projects including the nation’s inaugural offshore wind farm and advances in cancer detection technologies.

The EIB continues to adapt its framework to bolster investments in the security and defense sector, recently signing a €300 million loan to support Poland’s satellite program as part of its Action Plan.

As the long-term lending institution of the European Union, the EIB finances projects that align with EU policy objectives, promoting sustainability, social cohesion, and economic development. In 2023 alone, the EIB Group committed €88 billion across over 900 projects, expected to mobilize approximately €320 billion in investment and support 5.4 million jobs.

For more information about the EIB Group’s initiatives and its impact on Poland and the wider European landscape, please visit the official EIB website.

General information

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400,000 companies and 5.4 million jobs. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards across the bloc.

Media Contacts:

Gabriela Baczyńska
g.baczynska@eib.org
+48 502 355 634

EIB website: www.eib.org/press
Press Office: +352 4379 21000
press@eib.org

SOURCE: European Investment Bank