Banks from Poland and Latvia now participate in PF4EE

Money

In early 2020, two Eastern European banks joined the PF4EE instrument, namely BNP Paribas Bank Poland and ALTUM Bank in Latvia.

15/06/2020

With an EIB loan of 18 million euros and a complementary 3 million euro guarantee, ALTUM is fostering investments in energy efficiency measures and small-scale renewables targeted at SMEs, mid-cap companies and, in some cases, large enterprises, specifically in the industry sector.

BNP Paribas Bank Poland signed a guarantee agreement worth 16 million euros, which will unlock 166.7 million euros of new financing for energy efficiency projects. Target clients are farmers, homeowners and housing associations who want to invest in building refurbishment measures or install renewable energy sources such as photovoltaics.

Both banks also benefit from the Expert Support Facility (ESF) which is lead by adelphi. Through technical assistance services, the ESF supports these banks in easing the launch of the PF4EE credit line within their institution, fosters effective PF4EE loan appraisal and reporting within the banks, and builds the banks’ capacities on specific topics related to energy efficiency financing.

More information

EIB press release regarding ALTUM

EIB press release regarding BNP Paribas Bank Polska