EIB and Pekao Leasing Strengthen Collaboration with €68 Million Agreement to Boost Sustainable Growth in Poland

EIB and Pekao Leasing Strengthen Collaboration with €68 Million Agreement to Boost Sustainable Growth in Poland

(IN BRIEF) The European Investment Bank (EIB) and Pekao Leasing, a subsidiary of Bank Pekao S.A., have formalized an agreement worth €68 million, reinforcing their long-standing partnership. This loan from the EIB will empower Pekao Leasing to offer new financing solutions to support the sustainable development of Small and Medium-sized Enterprises (SMEs), Mid-caps, and entities within the Polish Public Sector. Notably, 20% of the total investment will be allocated to green projects undertaken by Polish companies, demonstrating the commitment of both institutions to environmental responsibility. The financing aims to enhance green investments by Polish SMEs and Mid-caps, boosting their competitiveness on national and international scales. In 2022, the EIB Group provided significant financing to Polish SMEs and mid-caps, contributing to the growth and sustainability of numerous companies and jobs in Poland, further solidifying the EIB’s role as a major supporter of climate action and environmental sustainability.

(PRESS RELEASE) LUXEMBOURG, 22-Dec-2023 — /EuropaWire/ — The European Investment Bank (EIB) and Pekao Leasing, a wholly-owned subsidiary of Bank Pekao S.A., have reaffirmed and strengthened their enduring collaboration by formalizing an agreement totalling €68 million. The EIB loan will enable Pekao Leasing to extend new financing to support the sustainable growth of Small and Medium-sized Enterprises (SMEs), Mid-caps, and entities within the Polish Public Sector.

Twenty percent of the total investment will be channelled toward green projects undertaken by Polish companies, underscoring the joint commitment of the two institutions to environmental responsibility.

EIB Vice-President, prof. Teresa Czerwińska said: “Supporting climate action and sustainable development is a key priority for the EIB, and the recent agreement with Pekao Leasing marks a significant stride in this direction. Through this financing arrangement, Polish SMEs and Mid-caps are empowered to enhance their green investments, thereby bolstering their competitiveness on both national and international markets.”

“Pekao Group has been cooperating with the European Investment Bank for years, supporting Polish companies and Polish economic transition. Another high-value Pekao Leasing agreement with the EIB provides further funds for the modernization of Polish small and medium-sized companies and their sustainable development” – said Leszek Skiba, CEO of Bank Pekao S.A.

“Pekao Leasing has very good experience in cooperation with international financial institutions. We use the funds obtained mainly to finance investments of enterprises from the SME sector to meet their needs in the modernization of machinery. Considering the dynamic increase in financing provided to clients by Pekao Leasing in recent quarters, we are convinced that the funds we obtained from EIB will quickly reach Polish entrepreneurs, especially those planning investments aimed at reducing CO2 emissions and increasing energy efficiency in production processes” – emphasizes Krzysztof Zgorzelski, president of the management board of Pekao Leasing.

In 2022, the EIB Group provided €695 million in financing for Polish SMEs and mid-caps, facilitating support for 69 192 companies and sustaining 650 888 jobs. In the years 2018 – 2022 the EIB Group support to entrepreneurships in Poland reached €7.03 billion.

The EIB is one of the world’s main financiers of climate action and environmental sustainability. In 2022, the volume of EIB financing that was devoted to climate action and environmental sustainability projects increased to €36.5 billion, 58% of total volume. As the EU’s climate bank, EIB is committed to support the European Green Deal, help Europe become the first carbon-neutral continent by 2050 and contribute to the achievement of the UN Sustainable Development Goals. In Poland, in 2022, EIB loans supporting the green transformation of the Polish economy reached 49%, out- of a total of €5.45 billion.

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SOURCE: European Investment Bank