EBRD adopts new strategy for Poland

By Axel  Reiserer

The EBRD Board of Directors has adopted a new strategy for Poland which sets out the Bank’s priorities in the country for the next four years.

As Poland is an advanced transition country the Bank’s activities in the next strategy period will be focused on a selected number of priorities, enabling it to provide support in areas where transition challenges remain the highest and where reforms can be deepened.

Consequently, the EBRD will focus its activities on the following challenges:

  • Promoting a low carbon economy: Given Poland’s continued high dependency on coal, low carbon solutions, energy efficiency and reduction of green-house gas emissions will remain a strategic priority for the EBRD. The Bank will continue to support diversification of energy sources with a focus on renewable energy and improving energy efficiency, both on the demand and supply sides.
  • Enhancing the private sector’s role in the economy: Accelerating the implementation of the structural reform and privatisation agenda is crucial to consolidate sustainable economic growth. Moving toward a more resilient economic model built on private investment and productivity growth increases will also require more innovation, providing risk capital and corporate restructuring, and will include supporting Polish companies in their regional expansion and cross-border investments.
  • Assisting in the development of a sustainable financial sector and capital markets: Building on lessons learned during the crisis, the EBRD will assist in the development of funding mechanisms addressing banks’ past balance sheet mismatches, financing small businesses (particularly in poorer regions of the country) and promoting the development of local debt and equity capital markets, to reduce the dependence on foreign financial inflows and to boost the use of local currency instruments.

In pursuing its strategic objectives, the Bank will seek to play a catalytic role, working closely with other market participants, commercial banks, capital market investors as well as IFIs.

To date, the EBRD has invested more than €6.3 billion in all sectors of the Polish economy with a combined project value exceeding €33 billion. In 2013, the expected amount of EBRD investments in Poland in equity and debt will amount to around €750 million.