Poland: EIB signs €300M loan to fund development of Earth observation satellites

Speaking from Warsaw, President Calviño highlighted the EIB Group's significant contributions to Poland's infrastructure and economic growth.

The European Investment Bank (EIB) has announced a €300 million loan to Bank Gospodarstwa Krajowego (BGK) to fund the development and launch of two Earth observation satellites. These satellites will provide high-resolution imagery for both civilian and defense purposes in Poland. This initiative supports the European space industry's advancement with cutting-edge Low Earth Orbit (LEO) satellite technology.

This investment aligns with the EIB Group's new Security and Defence Industry Action Plan, which aims to enhance investments in the sector. On her first visit to Poland as EIB Group President, Nadia Calviño, emphasized the alignment of priorities between the EIB and the Polish government, celebrating Poland's 20th anniversary of EU membership and its impressive development over the past two decades.

Speaking from Warsaw, President Calviño highlighted the EIB Group's significant contributions to Poland's infrastructure and economic growth. She expressed pride in announcing the new satellite project in collaboration with Prime Minister Tusk and BGK, marking the first major operation under the new Action Plan.

EIB Vice-President Teresa Czerwińska underscored the strategic importance of the project, which will integrate Poland into the space industry and support EU space autonomy. Marta Postuła, First Vice President of BGK, emphasized the project's role in enhancing Poland's digital progress and security capabilities.

The project entails the design, assembly, testing, and launch of two high-resolution imaging satellites, alongside the establishment of two ground stations for control and data reception. These satellites are expected to be operational by 2028 and will be used by various Polish governmental bodies, including the Ministry of Defence and the Polish Space Agency.

Boosting support for Europe's security and defense is a key priority for the EIB Group, as outlined in President Calviño's Strategic Roadmap. The EIB Group's Security and Defence Industry Action Plan aims to streamline financial support and expert assistance, with €6 billion in funding under the Strategic European Security Initiative (SESI) and the European Investment Fund’s (EIF) Defence Equity Facility.