EIB to provide EUR 305m loan for research and development in Poland

The EIB loan is supported by the European Commission under the InnovFin Science initiative in the framework of Horizon 2020.

Good news for researchers and scientists in Poland. The European Investment Bank (EIB) and the Ministry of Finance have signed an agreement to finance in the years 2019-2020 wide-ranging research programs promoted by the National Science Centre (NSC) in Krakow and the National Centre for Research and Development (NCRD) in Warsaw. The EIB loan is supported by the European Commission under the InnovFin Science initiative in the framework of Horizon 2020.

The EIB will provide a EUR 305m loan (equivalent to approximately PLN 1.3bn) to the Ministry of Finance, who will use it to complement the government funding granted by the Ministry of Science and Higher Education to the two centers to finance R&D activities of public or private entities. The National Science Centre, located in Krakow, supports basic research and projects undertaken by researchers at different stages of their careers in all fields of science, technology, and humanities. The National Centre for Research and Development (NCRD), located in Warsaw, supports applied research and development projects and innovation activities in Poland.

Vazil Hudak, EIB Vice-President in charge of operations in Poland, said: "Fostering innovation is one of the priorities of the EU bank. With this new agreement, we will ensure that funding for research and development in Poland benefits both early-stage and applied research, addressing the overall needs of Poland's scientific and business community. More affordable funding along the entire value chain of research and development means that Poland will move forward towards a knowledge-based economy".

Jerzy Kwieciński, Minister of Finance, Investment and Development said: "The meaning of projects implemented jointly with the Bank is growing, especially in the field of research and development, health care and social area, which reflects priorities of the Government's policies. Those investments in these fields will, from a long-term perspective, improve the competitiveness of the Polish economy".

Carlos Moedas, European Commissioner for Research, Science and Innovation, said: "With this agreement, the European Commission shows its continuous support to research institutions and their aim to strengthen Poland's science base for both fundamental and applied research activities. The €305 million loans will help to create the future Polish innovative products and services."