Poland largest beneficiary of EIB funding for cohesion regions in 2021
The European Investment Bank (EIB) provided EUR 36.6 billion of funding to EU cohesion regions in 2021, Poland received EUR 4.5 billion making it the largest beneficiary, the EIB announced on Wednesday.
EIB Vice President Teresa Czerwinska said that a significant part of the territory of Poland is covered by the EU cohesion policy. "These regions receive the greatest support from the EIB and I am glad that it serves not only local development, but also supports energy transformation and digitization.”
The "EIB Group Activities in EU Cohesion Regions", report shows that in Poland, 35 percent of the amount supported the sustainable development of cities and regions, 23 percent each for sustainable energy transformation and the development of innovation, digitization and human capital. Small and medium-sized companies received 19 percent funding for the support of cohesion regions.
According to EIB, funding for the less prosperous regions of the EU helped reduce the economic impact of the COVID-19 pandemic, and now may help counter some of the short-term effects of the war in Ukraine.
The bank emphasised that the financing of the cohesion regions in 2021 accounted for almost half of the funds provided by the EIB Group.
The EIB is the European Union institution that belongs to Member States. It provides long-term finance for key investments contributing to EU policy goals. The bank finances projects in four priority areas - infrastructure, innovation, climate and environment, small and medium-sized enterprises (SMEs). In 2020, the EIB Group provided financing for projects in Poland amounting to EUR 6.5 billion.