Leading European Banks Take Charge in Poland

Release date: August 12, 2020

Poland has taken another major step forward in transitioning to an environmentally friendly and technologically viable based economy. The European Bank for Reconstruction and Development, (EBRD) has been supporting Poland through loans and structuring plans for the future to promote their development. Notably this year, Poland received €63 million in financial loans from the EBRD for innovations into developing wind and solar energy. Also, this year Warsaw joined a list of 43 other European cities taking part in the €1.5 billion EBRD Green Cities program to work towards building a lower-carbon emission-based economy to promote a more sustainable future.

The EBRD, in collaboration with the KfW IPEX-Bank, has announced it is loaning €135 million for a new manufacturing plant in Poland. The proposed plant will produce cathode materials for electric car batteries with the intent of enhancing the performance of lithium-ion batteries and help improve electrical vehicle efficiency. 2022 was set as the goal for fully constructing the plant and starting production. The plant has potential to enhance growth in innovations and to support plans established by multiple countries to minimize their negative environmental impact in line with the United Nations’ Sustainable Development Goals.

This investment made by the EBRD and KfW IPEX-Bank helps Poland take a significant economic step forward. Investments in green technology and innovations helps the country meet dual goals of becoming more environmentally friendly while remaining economically competitive. The production capacity for these batteries is set at 10,000 tonnes per year, enough to produce 100,000 fully electric cars.

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