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Investment Plan for Europe: EIB Group’s first synthetic securitisation operation in Poland supports PLN 2.1 billion of SME loans from Alior Bank

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    Date: 19 December 2018

The European Investment Bank Group, formed by the European Investment Bank (EIB) and European Investment Fund (EIF), have granted Alior Bank a PLN 1.44 billion guarantee (EUR 335.3m), on the senior and mezzanine tranches of a PLN 1.5 billion (EUR 349m) SME portfolio. This is the first synthetic SME securitisation in which the EIB and EIF are jointly participating in Poland. The agreement was made possible by the support of the European Fund for Strategic Investments (EFSI).

EFSI is the central pillar of the Investment Plan for Europe, known as the “Juncker Plan”. Its support increases the EIB Group’s capacity to finance investment projects that, in line with the Plan’s criteria, involve activities which by their structure or nature have a higher risk profile but which foster firms’ competitiveness and create jobs.

The agreement aims to foster support for small and medium-sized firms in all sectors of the Polish economy, providing them with loans on favourable terms that enable them to obtain funding with lower interest rates and longer repayment periods.

EIF Chief Executive, Pier Luigi Gilibert said: “The EIF is delighted to be participating in the EIB Group’s first synthetic SME securitisation agreement in Poland to support Polish SMEs. EIF’s experience in mobilising and structuring investment, plus the EIB and the support of the Juncker Plan, will enable Alior Bank to release regulatory capital and enhances the bank’s capacity to provide SME financing on better terms.”

European Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, Elżbieta Bieńkowska said: “I welcome this new Juncker Plan agreement, which will give Polish small and medium businesses the financing they need to turn their ideas into innovative products, grow and create jobs. Poland is in the top 10 of countries benefitting from the Juncker Plan, and already almost 45,000 businesses are set to benefit from better access to finance thanks to European Union assistance. That is great news.”

Acting CEO of Alior Bank, Krzysztof Bachta, added: We are very glad that we managed to close the transaction with EIF and EIB under the Juncker Plan on terms which are favourable to the Bank. The released capital will be utilised to grow the Bank’s key SME segment. This transaction will enable the Alior Bank Group to offer additional lending to small and medium-sized enterprises at improved terms, in the form of reduced interest rate.”

This is the first synthetic SME securitisation in which the EIB and EIF are jointly participating in Poland. The EIB Group has supported 18 securitisation transactions in the last 12 months. This month alone the Group will provide guarantees amounting to EUR 1.7 billion to banks in Poland, Italy, Germany and Spain.

Notes to editors

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy objectives.

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central task is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. The EIF designs and develops seed and growth capital, guarantee and microfinance instruments that specifically target this market segment. In this role, it fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

The Investment Plan for Europe, known as the “Juncker Plan”, is one of the European Commission’s top priorities. It focuses on boosting investment to generate jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment, and providing visibility and technical assistance to investment projects.

The European Fund for Strategic Investments (EFSI) is the main pillar of the Juncker Plan and provides first loss guarantees, enabling the EIB to invest in more projects that often come with greater risks. EFSI has already yielded tangible results. The projects and agreements approved for financing under EFSI are expected to mobilise more than EUR 360 billion in investment, including EUR 13 billion in Poland, and support almost 850 000 SMEs in the 28 Member States.

More information on the results of the Investment Plan for Europe is available here.

Press contacts

EIF:
David Yormesor
Tel: +352 42 66 88 346
e-mail: d.yormesor@eif.org

Alior Bank:
Kamila Nowak
Tel: +48 509 956 803
e-mail: kamila.nowak@alior.pl

European Commission:
Sophie Dupin de Saint-Cyr
Tel.:+ 32 (0)2 29 56 169
E-Mail: sophie.dupin-de-saint-cyr@ec.europa.eu

 

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