EUR 2 billion credit line approved for Poland

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The European Investment Bank (EIB) has greenlighted EUR 2 billion in debt financing for Poland as a host country for refugees from Ukraine.

Teresa CzerwińskaGrzegorz Banaszak/REPORTER

„This is the first allocation under an EIB’s EUR 4 billion assistance program for EU member states challenged by a war-related migration crisis,” EIB Vice President, and Poland’s former finance minister, Teresa Czerwińska told Poland’s PAP news agency.

“The funds will facilitate quick financing for medical, educational and social infrastructure and other expenses incurred during the reception and integration of refugees,” she added.

The EIB’s Solidarity Package is dedicated for countries taking in refugees from Ukraine. Czerwińska noted that her bank offers long-term financing on preferential terms.

„The Bank will be able to finance up to 100% of the project value. This is an exception from the rule applied by the EIB to cover up to 50% of the project value,” Czerwińska elaborated.

„Poland is the first EU member state to benefit from the EIB’s Solidarity Package. Poland received EUR 2 billion from the EUR 4 billion package,” she added.

„Last year the EIB financed EUR 6.5 billion worth of projects for Poland, which is a record in terms of financing we made available to the country,” Czerwińska also noted

EIB funding is meant to mitigate the social and economic impact of the Ukraine war and help public agencies face challenges brought by the war-induced crisis.

(mo)

Source: PAP