The European Investment Bank (EIB) has provided a €150m ($101.90m) loan to Pekao Leasing, for bolstering the growth of small and medium-sized enterprises (SMEs) in Poland.  

The financing, which is part of an initiative to stimulate economic development in Poland, will facilitate around €420m of investments in total.  

EIB said the loan will support SME growth and green projects in Poland through Pekao Leasing. Pekao Leasing is a subsidiary of Bank Pekao. 

At least one-fifth of the loan amount is designated for environmentally sustainable projects, aligning with the broader objective of promoting green initiatives.  

This portion of the funding will assist companies in upgrading to more energy-efficient machinery and equipment. 

Bank Pekao management board vice-chair Robert Sochacki said: “Cooperation between Bank Pekao Group and the EIB dates back to 2004. This is a key partnership for us in supporting Polish companies looking to develop in accordance with modern climate-protection requirements. 

“Over the years, as part of implementing our strategy of developing cooperation with SMEs, as well as our environmental, social and governance strategy, we have repeatedly obtained EIB financing to support investments in climate protection, environmental sustainability and women’s entrepreneurship, which have contributed significantly to the development of these areas.” 

Bank Pekao structured the transaction, while guarantees from financial institution PZU Group have enabled the loan to be offered on advantageous terms. 

PZU management board member Bartosz Grześkowiak said: “That is why we actively support initiatives that not only help Polish companies to develop but also have a positive impact on the natural environment and help mitigate the adverse effects of climate change. 

“Guarantees granted by PZU are one of our instruments to support clients and business partners in the process of green transformation – an important part of implementing our sustainable development policy.”