The loans, which are part of the EBRD’s EUR150m Poland Sustainable Energy Financing Facility (PolSEFF), will support the banks in extending sustainable energy financing to SMEs operating in the manufacturing, services, retail, agri-business and other sectors.
The proceeds of the EBRD loans will be used to finance eligible energy efficiency and small-scale renewable energy projects with up to EUR1m to help local SMEs improve their competitiveness and overall efficiency, and contribute to reducing the Polish economy’s energy intensity.
The projects eligible for such investments under the PolSEFF include industrial energy efficiency improvements, energy efficiency and/or renewable energy measures in commercial buildings and small-scale renewable energy production.
The EBRD loan has incurred the support of a technical assistance and grants program, provided by the European Union to help the banks in financing for energy efficiency projects and assist SMEs to identify and prioritize such projects.
EBRD director of energy efficiency Terry McCallion said that promoting energy efficiency is one of the EBRD’s key priorities and it is pleased to expand its cooperation with BGZ and Millennium in this important sector.
