The European Investment Bank (EIB) has approved a €100 million ($111.62 million) loan to SG Equipment Leasing Polska (SGEF Poland) to support small and medium-sized enterprises (SMEs) in Poland.
This step will release a total of €200 million in new loans, a significant part of which is earmarked for climate action and sustainable development.
At least 20% of the resources provided by the EIB will be spent on environmental initiatives, including initiatives aimed at reducing greenhouse gas emissions.
The financing will facilitate investments in environmentally friendly vehicles, industrial and agricultural machinery, as well as renewable energy projects.
The agreement stipulates that 90% of the loan to SGEF Poland will be earmarked for financing SME projects, while the remainder will be earmarked for public sector initiatives.
Teresa Czerwińska, Vice-President of the EIB, said: “SMEs are the cornerstone of our economies and supporting them is one of the EIB’s key tasks.
“Another priority is to close the investment gap to achieve the EU’s climate goals, which in Poland often take the form of energy transition and greenhouse gas emission reductions. This agreement, sealed under our long-standing, proven partnership with SGEF Poland, meets both needs.”
Last year, the EIB Group allocated more than half of its €5.1 billion financing in Poland to climate-friendly projects. More than €630 million of this financing supported SMEs, helping almost 47,700 companies and sustaining almost 450,000 jobs.
In line with the strategy of its parent company Société Générale, SGEF Poland is committed to financing sustainable investments and investments in the energy transition.
CEO Olivier Rambert of SGEF Poland said: “Our long-term cooperation with EIB demonstrates our commitment to supporting the real economy. Our core business is financing small and medium-sized enterprises.
“The alignment between the EIB’s mission and SGEF Poland’s vision is once again demonstrated with this new financing.”
“EIB provides $111 million to boost Polish SMEs and green initiatives” was originally created and published by Leasing Lifea brand of GlobalData.
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