EIB and SGEF Poland Join Forces with €200 Million Financing for SMEs and Climate Action

EIB and SGEF Poland Join Forces with €200 Million Financing for SMEs and Climate Action

(IN BRIEF) The European Investment Bank (EIB) is providing €100 million to SG Equipment Leasing Polska (SGEF Poland) to support Polish SMEs, with SGEF Poland expected to generate €200 million in total financing. At least 20% of the funds will be dedicated to climate-friendly projects, such as low-emission machinery and renewable energy. This initiative is part of the EU Sustainable Finance Days 2024 and builds on a decade-long partnership between EIB and SGEF Poland. The agreement aims to boost economic growth while addressing climate action, particularly in energy transition.

(PRESS RELEASE) LUXEMBOURG, 19-Sep-2024 — /EuropaWire/ — In a major boost to Poland’s small and medium-sized enterprises (SMEs), the European Investment Bank (EIB) has committed to lending €100 million to SG Equipment Leasing Polska (SGEF Poland), a subsidiary of Société Générale. This loan, part of a broader collaboration under the EU Sustainable Finance Days 2024, aims to support the development of SMEs and contribute to green initiatives, with SGEF Poland expected to generate an additional €200 million in financing.

A significant portion of the financing, at least 20%, will be directed toward climate-focused investments. These funds will help businesses invest in low-emission equipment for sectors such as industry and agriculture, as well as in renewable energy technologies, contributing to the reduction of greenhouse gas emissions.

EIB Vice-President Teresa Czerwińska highlighted the dual importance of this agreement, saying, “SMEs are essential to the foundation of our economies, and their growth is a key priority for the EIB. Simultaneously, bridging the investment gap to meet the EU’s climate goals is crucial, particularly in countries like Poland, where energy transition is a pressing challenge.” She emphasized the bank’s commitment to addressing both economic and environmental needs through its ongoing partnership with SGEF Poland.

The loan terms specify that 90% of the funds will go toward SME projects, with the remainder supporting public sector initiatives. This financing arrangement aligns with the EIB’s Investment Survey (EIBIS), which found that SMEs in Central and Eastern Europe continue to face significant barriers in accessing capital.

As part of the EU Sustainable Finance Days 2024, the agreement aims to raise awareness of European Union support for sustainable development across various sectors, including financial institutions, municipalities, universities, and businesses.

This latest agreement marks the 10th collaboration between EIB and SGEF Poland, with their partnership dating back to 2010. SGEF Poland CEO Olivier Rambert reaffirmed the company’s commitment to supporting the real economy, stating, “Our ongoing cooperation with the EIB reflects our shared mission to drive sustainable growth. This new financing package strengthens our ability to support SMEs and advance the transition to renewable energy and environmentally friendly solutions.”

In 2023, the EIB Group provided nearly €5.1 billion in financing to Poland, over half of which was dedicated to climate-related projects. The EIB also allocated more than €630 million to Polish SMEs, benefiting over 47,700 businesses and helping to sustain nearly 450,000 jobs.

SGEF Poland continues to align with the broader strategy of its parent company, Société Générale, by focusing on investments that promote sustainable development and the energy transition. With this latest funding, SGEF Poland will further strengthen its role in financing green initiatives across Poland.

Background information

The European Investment Bank (EIB) is an institution of the European Union that provides long-term financing for sound investment projects that help implement EU priorities. The EIB’s shareholders are the Member States. The Bank works to enhance economic competitiveness, stimulate innovation, promote sustainable development, strengthen social and territorial cohesion, and support a fair and rapid transition to climate neutrality. The EIB is on track to meeting its goal of mobilising €1 trillion of climate investment by the end of this decade.

SG Equipment Leasing Polska (SGEF Poland) is part of the Société Générale group headquartered in Paris. As one of the largest leasing groups in Europe, our aim is to be “the worldwide partner for integrated equipment solutions creating sustainable and positive impact for the planet.” In Poland, SGEF focuses on the financing of machinery and equipment (financing in the form of leasing or loans) in 5 sectors: agriculture, transportation, aviation & specialized financing sector, industry, and technology (IT and green energy).

Media Contact:

Gabriela Baczyńska
g.baczynska@eib.org
+352 4379-83852

Press Office

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SOURCE: European Investment Bank