The EBRD is promoting energy efficiency in Poland with a €15 million loan to BZ WBK Finance & Leasing for on-lending to local small and medium enterprises (SMEs) that invest in sustainable energy projects. The loan is part of the EBRD’s €150 million Poland Sustainable Energy Financing Facility (“PolSEFF”).
A subsidiary of Bank Zachodni WBK, WBK Finance & Leasing serves small and medium-sized companies throughout Poland, providing them with financing for machinery and other equipment.
The EBRD Facility will support banks and leasing companies in extending sustainable energy financing to SMEs operating in the manufacturing, services, retail, agri-business and other sectors.
The proceeds of the EBRD loans will be used to finance investments in energy efficiency and small-scale renewable energy projects with a maximum lease size of €1 million. These investments include industrial energy efficiency improvements, energy efficiency and/or renewable energy measures in commercial buildings and small-scale renewable energy production.
The project will help Polish companies to improve their competitiveness and overall efficiency, and will contribute to improving the Polish economy’s energy efficiency.
The EBRD loan is supported by a comprehensive technical assistance and grants programme, provided by the European Union that will support the banks in promoting financing for sustainable energy projects and help SMEs to identify and prioritise such projects.
“We are delighted to continue our successful cooperation with financing institutions in Poland in order to support local businesses become more energy efficient and cut their carbon foot print. Investments in sustainable energy projects help companies improve their overall operational efficiency and competitiveness while bringing considerable benefits to the country’s economy and environment”, said Noel Edison, EBRD Director for Insurance & Financial Services.
“The cooperation with the EBRD will increase the competitive edge of our customers from two sectors which are strategic for us: SMEs and agricultural companies. The funds will allow many of them to successfully expand or start new operations, following the trend of environmentally friendly energy management. Moreover, this collaboration with the EBRD strengthens further the position of BZ WBK Leasing Companies as institutions committed to the promotion of business solutions aimed at responsible use of energy resources in Poland”, said Wojciech Nowacki, the President of BZWBK Finance & Leasing.
The Bank’s Sustainable Energy Financing Facilities are successful commercial products that are already under implementation through 35 banks in 15 EBRD countries of operation in Eastern Europe, the Western Balkans, Central Asia and the Caucasus for a total amount of €1.2 billion.
Since the beginning of its activity in Poland, the Bank has invested over €4.5 billion in various sectors of the country’s economy, including approximately €1.3 billion in the financial sector which has resulted in the mobilisation of more than €13 billion of additional investments by other institutions.