EIB to support Polish energy and science with almost EUR 1 bn in loans

The financing will come under an agreement signed during this year’s Economic Forum in the southern Polish town of Krynica Zdrój.

The EIB will provide EUR 250 million of financing to Polish energy giant Energa to upgrade and extend its electricity distribution network in northern and central Poland.

A further two EIB loans will provide Poland with EUR 730 million for research, development and innovation activities in its research institutes, universities and enterprises.

During the signing ceremony, Poland’s Deputy Prime Minister Mateusz Morawiecki said the new loans will provide financing for R&D projects essential for Poland’s economic growth.

They are expected to contribute to the development of scientific disciplines from quantum optics technology to supramolecular chemistry to 3D holographic imaging, he said.

The European Investment Bank is a European Union financial institution that provides long-term loans to the bloc's member states.

Last year, the EIB granted EUR 4.44 billion worth of loans to help finance projects in Poland.

(gs/pk)

Source: IAR, eib.org