EIB President Calviño and Poland’s PM Tusk Announce €300 Million Satellite Programme Investment

EIB President Calviño and Poland’s PM Tusk Announce €300 Million Satellite Programme Investment

(IN BRIEF) The President of the European Investment Bank (EIB) Group, Nadia Calviño, held discussions with Poland’s political leaders to strategize future financing and announce the initiation of Poland’s first satellite program. The €300 million project, supported by the EIB, aims to bolster European space technology with Low Earth Orbit (LEO) satellites for civilian and defense purposes. This initiative aligns with the EIB’s commitment to enhance Europe’s security and defense industry, as outlined in their Strategic Roadmap. Prime Minister Tusk highlighted the significance of the EIB’s contribution to the project, emphasizing its role in advancing Poland’s satellite monitoring plans and fostering pan-European defense collaboration.

(PRESS RELEASE) LUXEMBOURG, 21-May-2024— /EuropaWire/ — The President of the European Investment Bank (EIB) Group Nadia Calviño met Poland’s political leadership to discuss strategic priorities for future financing and to announce the first Polish satellite programme. She exchanged views with Donald Tusk, Poland’s Prime Minister, and is also meeting Radosław Sikorski, Minister of Foreign Affairs and Andrzej Domański, Minister of Finance on how the EIB Group can support Poland’s national policy objectives with strategic investments. They discussed growth-enhancing investments in Poland, measures recently approved to strengthen Europe’s security and defence industry, and further substantial financing to support Poland’s energy security and green transition.

President Calviño and Prime Minister Tusk announced the launch of the first Polish satellite programme financed with the EIB’s loan of €300 million and signed with Bank Gospodarstwa Karjowego (BGK). The project is supported by the EIB’s Strategic European Security Initiative and will strengthen the European space industry with the latest technology in Low Earth Orbit (LEO) satellites for both civilian and defence purposes. The project announcement follows the formal approval last week by EU member state representatives of the EIB Group Action Plan to step up investment for the EU’s security and defence industry.

Stepping up the EIB Group support to safeguard Europe’s peace and security is one of the top strategic priorities set out in the EIB’s Strategic Roadmap.

EIB President Nadia Calviño said, “I just had an excellent meeting with Prime Minister Tusk, where we have confirmed that our priorities are fully aligned. We are celebrating the 20th anniversary of Poland’s accession to the EU, and I would like to congratulate you, and Prime Minister Tusk in particular, on this extraordinary journey. I am impressed by how Poland has changed and developed over these two decades. Poland is a great success story. A bright example of the benefits of EU membership. And I am proud that the European Investment Bank Group has been a key actor contributing to that great success. The Group  has invested close to 100 billion euros in Poland.”

She added, “Today, we are also announcing another flagship investment project in Poland. I am really glad to announce with Prime Minister Tusk and our partners at the BGK Bank, that the EIB Group will invest 300 million euros in Poland’s first earth observation satellite system, which will support a number of initiatives for dual, civil and security, use.

It follows the launch of the EIB Group’s new Action Plan to step up our support for Europe’s security and defence industry. I am very pleased that the first operation since we launched this Action Plan is signed here in Poland. “

Prime Minister of Poland, Donald Tusk, said, “The role of the European Investment Bank cannot be overestimated. Today we signed an agreement supporting the Polish satellite program. We are talking about EUR 300 million here, a truly significant amount, thanks to which our plan to build satellite monitoring over Poland and Europe has again moved one step forward. Satellite systems and reconnaissance systems will be an essential part of this project, which I will like to present together with other European Prime Ministers in a few days. We will present it to this and the future European Commission, this and the future European Council, so that the idea of ​​pan-European air defense becomes less and less a dream and more and more a real, practical plan.”

Background information:

Poland has consistently been one of the top beneficiaries of EIB Group  financing and in 2023 this strong commitment has been continued with a total of almost €5.1 billion. EIB in Poland 2023 press release: Poland received €5.1 billion from EIB Group in 2023 to bolster economy

Today’s announcement of the first Polish satellite programme financed with the EIB’s loan of €300 million and signed with Bank Gospodarstwa Karjowego (BGK)

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SOURCE: European Investment Bank