EBRD president visits Poland

By Anthony Williams

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EBRD President Sir Suma Chakrabarti will visit Poland on 18-19 October, his first official trip to the country since he became President of the Bank in July this year.

He will meet senior Polish officials including Deputy Prime Minister Waldemar Pawlak and National Bank President Marek Belka, who is also Poland’s EBRD Governor, as well as representatives from the Polish financial and business community.

During the visit he will hold a speech at a conference hosted by the National Bank of Poland

President Chakrabarti will underscore the EBRD’s strong continued support for Poland, whose economy outperformed the rest of the European Union during the crisis but where growth is now slowing.

The EBRD invested nearly €900 in Poland in 2011 and is expects to provide a high level of financing of around €600 million again in 2012.

Since the beginning of the crisis the EBRD has invested nearly €2.3 billion in Poland focusing largely on the financial sector and the energy sector.

Within the financial sector, the Bank has sought to help Poland address challenges from the Eurozone crisis. In the energy sector, its work has focused on the development of renewable energy sources and on energy efficiency.

In the medium term the EBRD expects to continue its engagement in Poland aimed at supporting the government’s further restructuring and privatisation efforts, helping the drive towards sustainable energy use, addressing challenges in the banking sector and supporting the flow of capital to small enterprises.

Looking forward the EBRD is fully prepared to stay engaged in efforts to help push forward reforms in Poland and to steer the economy back to more robust growth.

Poland is the Bank’s fourth largest exposure, representing approx. 7.4% of the Bank’s total commitments (of €76.8 billion). As of the end of August 2012, net cumulative business volume totalled approximately €5,697 million. The current outstanding portfolio amounts to €2,874 million, composed of 124 active operations (including regional projects).

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