EIB gives EUR 50m for green economy lending in Poland

BZ WBK Leasing SA, Poland’s fifth largest leasing company, has secured a senior loan from the European Investment Bank (EIB) of up to EUR 50 million (USD 54m) to support green economy investments.

The EIB today said BZ WBK Leasing will use the proceeds to provide leasing finance to small and medium-sized enterprises (SMEs) in Poland for energy and resource efficiency, renewable energy, water and waste management sub-projects.

The loan has a maturity of four years and a one-year grace period. It comes under the new Green Economy Financing Facility (GEFF) Framework in Poland for Leasing by the EIB.

Established with EUR 350 million in total, GEFF’s goal is to address the high energy and water consumption in the Polish private sector. Over three years, the funds will be allocated to financial institutions in Poland which will in turn offer financing to local private businesses for high performance technologies and services supporting a green economy.

BZ WBK Leasing is part of Bank Zachodni WBK Group.

At the end of 2016 Poland became the first ever sovereign to issue a green bond with a EUR-750-million issuance for a range of climate-related projects.

(EUR 1 = USD 1.08)

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