Polish research receives 250 million euro boost
The European Investment Bank (EIB) is providing 760 million euro for projects in Poland, it announced on 15 October. During the EIB's tenth annual forum in Warsaw, the EU's financing institution revealed it is offering Poland a loan of 250 million euro in the area of science and technology. Other loans will go to municipal infrastructure projects, small and medium-sized enterprises (SMEs), as well as global loans to banks. The EIB is also set to sign a Memorandum of Understanding with the Polish railway on a new loan of 300 million euro. 'The science and innovation framework loan will support projects that are included in Poland's current and future research and innovation investment programmes,' said the EIB. 'The EIB loan will fund budgetary allocations of the state and thus contribute to the realisation of selected science and innovation investment projects,' it added. The loan offers long-term financing to guarantee the efficient implementation of the Polish government's priority investment projects. According to the Polish government, one of the priorities is to contribute significantly to the EU's Lisbon Agenda. Currently, Polish research and development (R&D) spending by both government and industry is low by international standards and has even been declining in recent years. The EIB loan is therefore aimed at reversing the trend. 'In the longer term, investment in human capital and R&D are the key to economic and social progress,' said EIB president Philippe Maystadt. 'For this reason, the EIB lends strong support to the EU's Lisbon Strategy. It is committed to financing investment in R&D and innovation with loans worth 40 billion euro in the period up to 2010. We are pleased to support public investment for R&D in Poland and thus assist the country in improving essential research capabilities, enhancing academic infrastructures and harnessing technological innovations,' he added. These new loans bring the total amount lent to Poland so far by the EIB to 8.2 billion euro, said Mr Maystadt. EIB loans to Poland account for one third of loans, provided by the bank to Central and Eastern European countries to date.
Kraje
Poland