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The Warsaw Voice » Business » October 29, 2010
Business & Economy
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EIB Lends Poland 100 Million Euros
October 29, 2010   
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The European Investment Bank (EIB) has granted two loans to Bank Pekao SA totaling 100 million euros to finance small projects carried out in Poland. Half the money has been set aside for projects initiated by local and regional authorities and public and private municipal companies in areas such as infrastructure, urban development, environmental protection, healthcare, education and energy efficiency, and for housing associations that want to insulate residential buildings.

The other 50 million euros from the EIB is to be spent on projects carried out by small and medium-sized businesses in areas such as manufacturing, services, tourism, farming, healthcare, environmental protection, energy and the knowledge-based economy.

The EIB, the EU’s financial institution, aims to support integration, sustainable development, and economic and social cohesion in EU member states by providing funding for well-prepared projects. Since 1990 the EIB has granted 3.7 billion euros in loans to banks in Poland. The money was spent on projects initiated by small and medium-sized businesses. The EIB usually finances projects carried out by small and medium-sized companies employing less than 250 people.
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