CEB grants loan to Polish Pekao Leasing

The Council of Europe Development Bank (CEB) has granted a EUR 100 million loan to Pekao Leasing of the Pekao Bank capital group to finance the development of micro, small and medium- sized enterprises in Poland.

"Pekao Leasing, a leasing company from the Pekao Bank capital group, has signed a EUR 100 million credit deal with the Council of Europe Development Bank. The credit will be used to finance - in the form of financially competitive leasing - investments as well as the development of micro, small and medium-sized enterprises in Poland," the company reported in a Thursday communique.

This has been another agreement signed by Pekao Leasing and CEB. Since 2015, the two institutions have signed four agreements worth EUR 400 million.

The communique stressed that "2 million small, medium and micro companies create over 50 percent of the Polish GDP and employ two-thirds of all working Poles.

CEB, a multilateral development bank, affiliates 41 member countries and offers financial support to investments in 22 Central and South European countries. Poland joined CEB in 1998.