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The European Investment Fund (EIF) and Polish financial intermediary Bank Pekaohave signed an agreement to provide €285 million (PLN 1.2 billion)to small and medium-sized Polish companies.

The agreement will allow Bank Pekao to provide SMEs with loans with lower down-payment requirements, supporting businesses which have limited access to lending. Around 1,500 Polish SMEs are expected to benefit as a result.

The agreement was made possible by the Juncker Plan’s European Fund for Strategic Investments (EFSI). Commissioner Elżbieta Bieńkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs, said: “Today’s announcement by the European Investment Fund and Bank Pekao is very good news for start-ups and other small businesses in Poland wishing to scale up. Thanks to EU support, around 1,500 Polish SMEs who have struggled to access finance until now will have a new opportunity. This is yet another good example of the Juncker Plan at work.”

For all the latest EFSI results see the Investment Plan website or contact Johannes Bahrke – Tel.: +32 229 58615; Siobhán Millbright – Tel.: +32 229 57361