The European Investment Bank (EIB) has signed a deal with BNP Paribas to release financing for €166m of energy efficiency projects in Poland.
Under the agreement, the EIB will provide €16m in first loss guarantees to help the bank finance the projects – which aim to help 15,000 people by installing renewable energy sources in homes and farms.
The funding comes through the EIB’s ‘Private Finance for Energy Efficiency’ programme – a joint initiative with the European Commission.
European Commissioner for Energy Kadri Simson said: “Energy efficiency is a common priority for many countries around the globe. It is an essential component of EU energy policy and key for the clean energy transition.
“Given the challenges we have faced this year with the Covid-19 outbreak, it will have an even bigger role to play in the future as we look to recovery”.