The European Investment Bank (EIB) will provide a loan of €150 million to Poland's largest bank, PKO Bank Polski. The loan will support small and medium-scale projects in environmental protection, energy conservation, health and education infrastructure, industry and services.

“The EIB global loans in Poland are crucial to enable banks to provide longer term financing, which is not always readily available on the the domestic market,” the EIB said in a statement. This is a third loan that the EIB has granted PKO, bringing the total lent to €466 million. The loan was allocated through 15 intermediaries from the public and private sectors.

The final beneficiaries of the loan will be local and regional authorities, who will use it for co-financing of EU projects. Moreover, clients can get the funds at favorable interest rates. The total cost of a project must range between €40,000 and €25 million, and the funding from the EIB cannot exceed 50 percent of the value of the project.

Marta Mardosz