IFC Eyes $250m Green Bond Investment with Bank Pekao to Boost Poland’s Transition

The proceeds from IFC’s potential investment will be fully earmarked for green projects, with a portion allocated to blue finance initiatives focused on sustainable water management.

 

The International Finance Corporation (IFC), a member of the World Bank Group, and Bank Pekao S.A., Poland’s second-largest bank, have announced the start of a long-term partnership to accelerate the country’s transition toward a greener, more sustainable economy.

As part of this partnership, IFC is considering investing up to $250 million in a series of bonds to be issued by Bank Pekao. The investments, subject to corporate approvals, commercial terms, and market conditions, are intended to strengthen the resilience of Poland’s banking sector while expanding its green and blue finance portfolio.

Financing Green and Blue Projects

The proceeds from IFC’s potential investment will be fully earmarked for green projects, with a portion allocated to blue finance initiatives focused on sustainable water management. Priority areas for investment include:

• Energy-efficient transport and buildings,

• Renewable and clean energy,

• Water efficiency and wastewater management, and

• Sustainable resource use across industries.

The partnership will provide Polish companies with improved access to financing for climate-friendly initiatives, while helping Bank Pekao grow its sustainable finance portfolio—currently only about 8 percent of total lending.

Bank Pekao’s Commitment

Dagmara Wojnar, Vice President of the Management Board at Bank Pekao, said the collaboration reinforces the bank’s commitment to climate action:

“This partnership with IFC allows us to channel significant resources into projects that reduce negative impact on the climate, improve water management efficiency, and accelerate Poland’s journey toward a sustainable future.”

Fellow Board Vice President Robert Sochacki highlighted the broader economic benefits:

“Investing in blue and green finance is not only about the environment, but also about strengthening the competitiveness of our clients. By financing innovative projects in clean energy and water efficiency, we help businesses grow in a way that benefits the entire economy.”

Poland’s Energy Transition Challenge

Poland remains heavily reliant on coal, which still provides around 60 percent of its electricity. To meet its ambitious decarbonization targets, the country will need an estimated $449 billion in investment by 2050—a figure equivalent to more than half of its 2023 GDP. The private sector is expected to play a crucial role in bridging this financing gap.

IFC’s involvement with Bank Pekao is therefore seen as a key step in mobilizing international and private capital for Poland’s green transition, particularly at a time when climate resilience and energy diversification are strategic priorities for the country.

IFC’s Role in Poland

IFC has a long history in Poland, supporting private sector growth for more than 30 years. In fiscal years 2024 and 2025, IFC invested and mobilized $1.8 billion in the country, targeting projects that drive innovation, expand access to capital, and accelerate sustainable development.

Ines Rocha, IFC’s Division Director for Europe, emphasized the dual focus of the partnership:

“By partnering with a systemically important bank like Pekao, we can help unlock capital that reinforces financial stability while also generating positive environmental impact.”

Building Financial and Environmental Resilience

This collaboration comes at a critical time for Poland, as the country seeks to modernize its energy system while ensuring economic competitiveness. By leveraging IFC’s global expertise in green finance and Bank Pekao’s market reach, the initiative aims to:

• Strengthen the resilience of Poland’s financial system,

• Support companies in adapting to a low-carbon economy, and

• Contribute to Europe’s broader climate and energy security goals.

The proposed $250 million investment represents more than just a financial transaction—it positions Poland as a potential leader in sustainable finance among Central and Eastern European economies.