European Investment Fund and Bank Pekao join forces to channel over €290 million in new financing to Polish SMEs

• EIF and Poland’s leading bank sign new portfolio guarantee under InvestEU
• Over €290 million in mobilised new funding designed to reach as many as 4,000 companies
• Underserved startups and microbusinesses among target beneficiaries 

23 January 2025: The European Investment Fund (EIF) and Poland’s Bank Pekao, a leading financial institution in Central-Eastern Europe, have signed a new InvestEU portfolio guarantee agreement to boost sustainable development of Polish small and medium-sized enterprises. The guarantee worth up to PLN80 million will serve as a springboard for Bank Peako to extend as much as PLN1.25 billion (over €290 million) in new debt financing to some 4,000 companies. Target beneficiaries include startups, microbusinesses and firms with major growth potential that have so far been underserved by the market.

“This latest partnership between the EIF and Bank Pekao means many more small and mid-sized companies will be able to finance growth and beef up competitiveness, including through deploying schemes that benefit climate and environment. The offer is dedicated to startups and other enterprises that have so far been underserved by the market due to their risk profile or insufficient collateral. Hence our cooperation expands strategic financing for innovators, helping them grow and stay in Poland and in Europe,” said Vice-President Teresa Czerwińskaof the European Investment Bank Group, which includes the EIF.

Signed under InvestEU, the agreement marks the EIF’s biggest guarantee with a commercial bank in Poland in terms of the expected size of new SME financing. More than PLN700 million is earmarked to companies underserved by the market. Over PLN330 million is designed to reach SMEs and small mid-caps willing to invest in climate-friendly projects including photovoltaics and biogas energy production, low-emission transport and green buildings. The remaining part is envisaged for microbusinesses. Overall, EIF’s guarantee will cover up to 80% of new financing extended by Bank Pekao.

“Bank Pekao's cooperation with the European Investment Fund has a long history, we have been working together for more than 20 years. During this time, we have supported many domestic companies in their efforts, offering attractive and accessible financing. Things are no different now - we have plans to provide loans with InvestEU guarantees for a total of PLN1.25 billion by 2027. This large amount will support the ambitious goals of raising the competitiveness of SME and micro-entrepreneur companies, and will also help in implementing “green” projects. We want entrepreneurs to be able to fully benefit from the possibilities of this financing, which is why the guarantee fees we offer will be the lowest on the market,” said CEO of Bank Pekao S.A., Cezary Stypułkowski.

Since launching in Poland, the EIF has signed financing worth €7.54 billion in the country, supporting €22.7 billion in total investment and 660,000 jobs.

“It is not the first, and I certainly hope not the last time that the EIF joins forces with Bank Pekao to stimulate sustainable economic development through expanding SME access to financing. The added value of this guarantee lies in risk reduction for investments that drive innovation and competitiveness for Polish companies, including in particular start-ups and micro-businesses,” said EIF Chief Executive Marjut Falkstedt.

General information

The European Investment Fund (EIF) is part of the European Investment Bank Group. It supports Europe’s SMEs by improving their access to finance through selected financial intermediaries such as banks, guarantee and leasing companies, micro-credit providers and private equity funds. The EIF designs and offers equity and debt financing instruments fostering EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions, and employment.

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its 27 Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

EIB Group signed a total of €88 billion in new financing for over 900 projects in 2023, including over €31 billion worth of financing for SMEs in Europe. Out of a total of €5.1 billion granted to projects in Poland that year, more than €630 million supported SMEs. Financing for climate-friendly projects has now reached more than half of the total EIB Group investment in the country. The Group will present its 2024 results shortly.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. It helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments, making funding for investment projects in Europe simpler, more efficient and more flexible. The InvestEU Fund is implemented through financial partners that invest against an EU budget guarantee worth €26.2 billion. That guarantee will back investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Bank Pekao SA, founded in 1929, is one of the largest financial institutions in Central-Eastern Europe and the second-largest universal bank in Poland, with assets of PLN324 billion. Boasting the second largest branch network, Bank Pekao serves 7 million customers. As Poland’s leading corporate bank, it serves one in two corporations in the country. Its status as a universal bank is based on its leading position in private banking, asset management and brokerage activities. Bank Pekao’s diversified business profile is supported by a market-leading balance sheet and risk profile, characterised by the lowest risk costs, strong capital ratios and resilience to macroeconomic conditions. Since 1998, Bank Pekao has been listed on the Warsaw Stock Exchange and in several indices, both local (including WIG 20 and WIG) and international (including MSCI EM, Stoxx Europe 600 and FTSE Developed). Over the last decade, Bank Pekao has paid out total dividends of PLN 20 billion, placing it among the highest dividend-paying listed companies in Poland.

Press contacts

EIB Group

Gabriela Baczyńska, g.baczynska@eib.org, +48 502 355 634

Website: www.eif.org – www.eib.org/press – Press office: +352 4379 21000 – press@eib.org

Bank Pekao S.A.

Paweł Jurek

Bank Pekao S.A.

+48 571 398 741

media@pekao.com.pl

Biuro Prasowe | Bank Pekao S.A.