The European Investment Bank (EIB) has announced a €100 million loan to SG Equipment Leasing Polska (SGEF Poland), a subsidiary of France’s Société Générale, to foster the growth of small and medium-sized enterprises (SMEs).
In addition, SGEF Poland will offer a total of €200 million in new loans.
At least 20% of this financing is dedicated to enhancing climate initiatives specifically aimed at reducing greenhouse gas (GHG) emissions.
The funds will support investments in low-emission vehicles and machinery for both industrial and agricultural sectors and renewable energy projects.
Also read: EIB Approves €5.3 Billion for Climate Resilience and Business Innovation Across Europe
“SMEs are the cornerstone of our economies and supporting them is one of the EIB’s key tasks,” said EIB Vice-President Teresa Czerwińska.
She added, “Another priority is to help fill the investment gap towards achieving EU climate objectives that, in Poland’s case, often take the form of energy transition and reductions of greenhouse gas emissions. This agreement, sealed under our long-standing, proven partnership with SGEF Poland, responds to both these needs.”
Under the agreement, 90% of the loan to SGEF Poland will be utilized to finance projects undertaken by SMEs, while the remaining portion will support the public sector.
According to the EIB Investment Survey (EIBIS), SMEs in central and eastern Europe expressed the highest concerns regarding limiting access to financing in 2023.
Additionally, the agreement stipulates that at least 20% of the total funding must be directed toward climate action. This initiative is part of the EU Sustainable Finance Days 2024, which aims to raise awareness about the European Union’s support for various entities—such as financial institutions, businesses, municipalities, and universities—engaged in sustainable development.
This marks the tenth agreement established between the EIB and SGEF Poland in a partnership that began in 2010.
In 2023, over half of the EIB Group’s nearly €5.1 billion financing in Poland was directed toward climate-friendly initiatives. The bank provided more than €630 million to support SMEs, benefiting over 47,700 Polish businesses and helping to preserve nearly 450,000 jobs.
SGEF Poland aligns with its parent company’s strategy to finance investments in sustainable development and the energy transition. This current agreement will enable SGEF Poland to enhance its efforts in this crucial area.