Supporting green investments by SMEs in Poland

The European Investment Bank (EIB) and SG Equipment Leasing Polska (SGEF Poland) have signed an agreement aimed at accelerating the development of SMEs and Midcaps in Poland.

The loan of EUR 100m will also facilitate the development of climate action projects, with a special focus on greenhouse gas reduction and low-carbon emissions. The financing includes support, for sustainable mobility, low carbon vehicles, low-emission industrial and agricultural machinery and renewable energy projects. Crucially, 80% of the investments will boost economic development in Poland’s cohesion regions.

SGEF Poland and EIB co-operation dates back to 2010 with nine agreements signed. SGEF Poland follows its parent company’s strategy focusing on pro-climate and energy transition investments. Within their Climate Action/Green investments’ programme, the company has supported modernisation towards lower emissions from industrial vehicles and with current agreement this support will be continued and enhanced.

According to The EIB Investment Survey, the Polish SME sector has understood the urgency to invest in activities mitigating climate change. 39% of Polish companies have already invested in actions preventing climate change, while half (48%) plan to do so within the next three years. In addition, more than one third (36%) of Polish companies have invested in measures to improve energy efficiency.

The European Investment Bank is one of the world’s main financiers of climate action and environmental sustainability globally. As the EU’s climate bank, the EIB is committed to support the European Green Deal, help Europe become the first carbon-neutral continent by 2050 and contribute to the achievement of the United Nations’ Sustainable Development Goals. In Poland, in 2021, EIB loans supporting the green transformation of the Polish economy reached 42% of the total lending of EUR 6.5bn.

The SME sector in Poland represents 99.8% of enterprises and is responsible for 67.7% of employment. Supporting SME development is one of the key priorities for the EIB Group – in 2021 small and medium-sized businesses received funding from the EIB Group (which included the EIB and its subsidiary the European Investment Fund) of EUR 1.78bn, of which around EUR 640m was allocated specifically to ease the impact of COVID-19.

Vice-President of the European Investment Bank, prof. Teresa Czerwinska said: “Supporting the growth of SMEs and mid-caps is key to sustain economic growth in these challenging times. Companies in this sector, compared to large corporations, were particularly vulnerable to the negative effects of both the pandemic and the current crisis. Therefore, it is important to provide business with as many financing opportunities as possible so that companies can implement their green transformation plans. We are glad that we can tighten cooperation with SG Equipment Leasing Polska and provide Polish entrepreneurs with attractive financing for their ambitious projects. Supporting SMEs, mid-caps and climate action are top priorities for the EIB Group and we are proud to have such an experienced partner on our side.”