EBRD's new strategy for Poland focuses on energy, transport.

By bne IntelliNews July 23, 2010
The 2010-2013 strategy for Poland, recently approved by the European Bank for Reconstruction and Development's (EBRD) board of directors, stipulates for the bank's further involvement in crediting Polish entities and support for investments in the energy field as well as in for its participation in the privatization of the transport sector. It pledges to ,,foster commercial banks' and leasing companies' continued lending to the corporate sector, particularly to SMEs and micro enterprises." Also, the bank will aim to participate in privatisations of state-owned companies, for which - as it stressed - the current crisis has lent both urgency and opportunities. It aims to promote investments in further diversification of energy and fuel supplies to contribute to energy security, and in the sustainable development of the energy sector by prioritising renewable energy production and efficient use of energy. Since the last Country Strategy was approved in 2006, the bank's business volume in Poland gradually declined as a result of progress in transition and reflecting the emergence of a competitive banking sector largely dominated by foreign banks. In 2006-2008, it signed 31 projects for an amount of EUR 535.2mn (including cross-border transactions). As a result of bank's response to the financial crisis, the situation in 2009 changed substantially. At year-end, it had signed 21 projects for EUR 441.1mn (including cross-border transactions). tom

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