Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

24 Feb 2016



PSD disclosed:

15 Jan 2016

Translated version of this PSD: Polish

Project Description

Under the Poland-REFF, the Bank will provide the Polish bank BZ WBK with a loan together with a comprehensive Technical Cooperation support package. BZ WBK will on-lend the EBRD funds on market terms to its customers to finance eligible energy and resource saving projects in residential buildings.

Project Objectives

The facility is aimed at tackling the high energy and water consumption in the Polish residential sector and is expected to contribute to the following objectives: (i) enhancing the competitiveness of commercial financing for energy and resource saving investments in the residential sector; (ii) improved living standards of households; (iii) lowering carbon emissions; (iv) developing market-based loan instruments that target the above objective.

Transition Impact

In line with the Poland-REFF framework, the main sources of transition impact will stem from the demonstration of financial viability of energy and resource efficiency financing, which is expected to contribute to the growth of the market for sustainable energy and resource financing in Poland.

Client Information


BZ WBK is the third largest lender in Poland established through a merger between Bank Zachodni S.A. and Wielkopolski Bank Kredytowy S.A. in 2001. In April 2011, BZ WBK became part of the Santander Group. Banco Santander S.A. is the main shareholder of the Group and currently holds 69.4% shares. The Group has a well-established and developed network of retail branches and a strong position in the SME and corporate sectors, focusing on customers from large and small and
medium-sized enterprises. The merger with Kredyt Bank (in 2013) significantly increased the Group's mortgage franchise,  while the consolidation of Santander Consumer Bank (2014) also helped to expand the Group's presence in retail lending. As of 9M15 the Group had total assets of EUR 31.9 billion, total equity of EUR 4.7 billion and net profit of EUR 534.8 million. BZ WBK served 6.2 million customers and had a network of 752 branches as of 9M15.

EBRD Finance Summary

EUR 75,000,000.00

Total Project Cost

EUR 75,000,000.00

Environmental and Social Summary

Categorised FI. BZ WBK will be required to comply with EBRD's Performance Requirements 2, 4 & 9, adopt and implement the EBRD's ES Risk Management Procedures and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

The facility will be supported by a donor-funded Technical Cooperation (TC) package of up to EUR 2.5 million provided by a Project Consultant under the Poland-REFF framework. The initial amount of EUR 1 million TC is provided by the EBRD Shareholders Special Fund. BZ WBK is expected to contribute in parallel up to EUR 25,000 or up to 20% of the relevant TC resources (e.g. capacity building, marketing) and in-kind up to EUR 15,000 (monitoring/administration).

Company Contact Information

Pawel Kolodzinski
Bank Zachodni WBK S.A., 17 Jana Pawla II Avenue, 00-854 Warsaw, Poland

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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