The European Bank for Reconstruction and Development (EBRD) has announced a loan of €50m to BZ WBK Leasing to support energy and resource efficiency, renewable energy, water and waste management in Poland.

The loan marks the launch of EBRD’s new €350m Polish Green Economy Financing Facility for Leasing (Poland GEFF Leasing) intended to financially support local private businesses.

EBRD says that Poland GEFF Leasing will be utilized to support Polish projects that meet the criteria of the institution’s Green Economy Transition (GET) approach.

EBRD director and Insurance, Financial Services and Financial Institutions head Noel Edison 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.”

EBRD says that introducing environmentally-friendly and market-compatible methods of producing power and energy continues to be a significant challenge for Poland.

The UK-based financial institution added that Poland continues to be highly energy and carbon intensive in spite of its commitment to the 2020 EU climate change targets. Included in the targets is a 20% decrease in greenhouse gas emissions.

Through the partnership with leasing company BZ WBK Leasing, the GEFF will be extended to private sector customers in Poland, stated EBRD.

BZ WBK Leasing vice president Tomasz Jader said: “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.”

Image: EBRD announces €50m loan to BZ WBK Leasing to support energy and resource efficiency in Poland. Photo: courtesy of European Bank for Reconstruction and Development.