The FINANCIAL — The EBRD is launching its new Polish Green Economy Financing Facility for Leasing (Poland GEFF Leasing) with a €50 million loan to BZ WBK Leasing S.A. to finance investments in energy and resource efficiency, renewable energy, water and waste management for local private businesses.
The new €350 million framework will be used to support projects in Poland that fulfil the criteria of the EBRD Green Economy Transition (GET) approach. The EBRD supports investments in renewable sources of energy, energy efficiency and energy savings and is well on track to reach its target of dedicating 40 per cent of its annual investments to green energy by 2020, according to the EBRD.
Introducing environmentally-friendly and market-compatible ways of generating power and energy remains a major challenge for Poland. Despite being committed to the 2020 EU climate change targets, which include a 20 per cent reduction in greenhouse gas emissions, Poland remains highly energy and carbon intensive.
By collaborating with BZ WBK Leasing, the GEFF will be extended to private sector customers throughout the country. BZ WBK Leasing, headquartered in the western Polish city of Poznań, is one of the largest leasing company in Poland and growing strongly.
Noel Edison, EBRD Director and Head of Insurance, Financial Services and Financial Institutions, said: “We are very pleased to launch this new green facility and especially happy to do so with BZ WBK, a long-standing partner of the EBRD. This new approach will make funds available to support individual companies in making investments which will contribute to improving the environment. This new facility demonstrates how the EBRD can contribute to supporting Poland’s efforts to improve its environmental balance.”
Tomasz Jąder, Vice President of BZ WBK Leasing, said: “I am very happy that we will continue our cooperation with the EBRD, which has enabled us to finance the development of our clients for many years. This credit line and the framework are particularly important to us because it means we will contribute, through our joint investments with clients, not only to improving the efficiency of our clients’ businesses but also to improving the quality of our environment and, as a consequence, the quality of life for us all.”
To date, the EBRD has invested more than €8.6 billion through 390 projects in Poland. In its work in the country, the Bank is focusing on the development of the local capital market, support of cross-border expansion of local companies, strengthening competitiveness and support for the green economy.