WARSAW: European Investment Bank (EIB) plans to maintain its 2016 lending for Poland at last year’s level of 5.5 billion euros ($6.2 billion), despite Moody’s decision to cut its rating outlook last Friday, the EIB’s Polish representative said. In January, Standard and Poor’s rating agency cut Poland’s rating. Last week, Moody’s Investors Service decided to cut Poland’s outlook which indicates that its next decision might be to lower the country’s rating, which might discourage foreign investors.
“We’re observing the situation, but for now it does not worsen the perception of project risk which we analyse in Poland,” EIB director in Poland, Piotr Michalowski, told Reuters. “We hope that this year we will be able to maintain our lending in Poland at the level similar to the 2015, when it amounted to 5.5 billion euros,” he added.
EIB in Poland is co-financing mainly infrastructure projects in transport and telecommunications, as well as investments carried out by energy and chemical firms, such as PGE or Grupa Azoty. The European Union’s bank is responsible for implementing the European Commission’s 300 billion-euro plan to boost investment in Europe without adding to public debt.
