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Polish bank signs $18.6 million energy efficiency pact with EIB

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In Poland, the European Investment Bank (EIB) has signed a €16 million ($18.6.6 million) agreement to provide energy efficiency funding with BNP Paribas Bank Polska.

The two banks will finance energy efficiency and renewable energy projects deployed by Polish homeowners, micro-farmers and housing associations.

 

Leveraging the agreement with EIB, BNP Paribas Bank Polska will be able to provide €166.7 million ($193.9 million) of new financing for energy efficiency projects.

 

Around 15.000 clients are expected to benefit from the project. The EIB guarantee comes under the Private Finance for Energy Efficiency (PF4EE), a joint initiative launched by the European Commission via the LIFE programme and the EIB.

 

Measures that are eligible for this financing include solar photovoltaic installation for private homeowners and micro-farmers and a wide range of energy efficiency measures for multi-apartment buildings, such as energy efficient windows or facades, heating and ventilation systems, renewable energy sources integrated into the buildings and other measures.

 

EIB vice-president Teresa Czerwinska, said: “When you talk about climate action, there is much to be gained from energy efficiency. Investing in climate-relevant projects is not only about energy generation or e-mobility – a huge effort is needed to better manage and use the energy that we consume.

 

Read the full news here.