In 2023, Poland witnessed a substantial economic boost with a €5.1 billion infusion from the European Investment Bank (EIB) Group, demonstrating the institution's robust commitment to bolstering the Polish economy. This funding is a slight adjustment from the €5.45 billion allocated in 2022, and includes €4.67 billion from the EIB and €632 million from the European Investment Fund (EIF), with €255 million dedicated to overlapping projects.
A significant portion of this investment, €1.78 billion, marked an 80% increase dedicated to accelerating Poland's energy transition. Public entities across Poland, including regions and cities, received €2.33 billion, while small and medium-sized enterprises (SMEs) and mid-caps benefited from €633 million in financial support. Additionally, €360 million was allocated to foster innovation and human capital, with green and climate-focused financing making up 52% of the total, an increase from 49% in 2022.
EIB Vice-President Teresa Czerwińska emphasized the bank's role in promoting sustainable energy transitions and innovation, aiming to protect jobs, spur economic growth, and solidify Poland's economic standing within the EU. Polish Finance Minister Andrzej Domański highlighted the urgency of addressing energy transformation, climate change effects, economic competitiveness, and defense readiness through EU solidarity and swift action.
The RePowerEU and InvestEU initiatives played key roles in last year's financial support. Notably, €610 million of the funds for energy transition were directed through InvestEU to support Baltic Power's development of a significant wind farm on the Baltic Sea. PGE and Enea also received funding for energy distribution network development, aligning with the REPowerEU plan to enhance clean energy, EU energy independence, and efficiency.
The EIB extended financing to various sectors for energy efficiency improvements, including a significant loan to the Biedronka supermarket chain and €104 million to food manufacturer Maspex for plant modernization. The EIB's ELENA program offered technical support for energy-efficient and renewable energy investments in buildings and urban transport, aiding Polish energy equipment company Mazovian Energy Agency in upgrading public buildings.
From 2019 to 2023, the EIB Group invested €4.75 billion in Poland's energy sector transformation. Business innovation also received support, with agreements to advance cancer detection technology with SDS Optic and to bolster Tylko's research and development.
Over five years, the EIB Group's contribution to innovation, digitalization, and human capital in Poland reached €4.3 billion, enhancing sustainability and inclusivity in Polish regions and cities with €2.33 billion in 2023 alone. This support facilitated projects across various cities, including a significant investment in modernizing Kraków's tramways.
In transportation, the EIB collaborated with Bank Gospodarstwa Krajowego to modernize roads within the Trans-European Transport Network (TEN-T), including significant investments in the S6 expressway and the A2 Motorway to improve regional mobility.
The EIB's JASPERS program supported water management, flood mitigation, and transport emission reduction initiatives, contributing to a total of €11.91 billion in sustainable regional development investments from 2019 to 2023.
Lastly, EIB Group's support for SMEs and mid-caps in 2023 bolstered the Polish economy, aiding over 47,700 entities and supporting nearly half a million jobs. Financing agreements with various entities facilitated green investments, innovation, and support for women entrepreneurs, with EIF's venture capital investments reaching €153 million in 2023, culminating in a total support of €6.62 billion to SMEs and mid-caps over five years.
