International cooperation

In the PKO Bank Polski SA Group, funds to cover the needs arising from the development of business operations, including the financing of projects relating to the small and medium enterprises segment, are also raised via international cooperation.

The Group raises funds on foreign financial markets, i.a. through loans from international financial institutions (i.a. the Council of Europe Development Bank and the European Investment Bank).

In 2016, PKO Leasing SA used the funds from loans from the Council of Europe Development Bank (CEB) and from the European Investment Bank (EIB) to finance the development of small and medium enterprises. Loan agreements were signed totalling EUR 40 million, and the value of the funds launched in 2016 (also the agreements in 2015) amounted to PLN 132 million and EUR 75 million. In 2016 RLPL signed two loan agreements with international institutions – the European Bank for Restructuring and Development (EBRD) and the International Finance Corporation (IFC) which are part of the World Bank Group. The agreement with EBRD was concluded for PLN 255 million, and the credit limit with IFC amounted to USD 75 million. Under the above financing facilities, in 2016 loans were launched of PLN 170 million in respect of EBRD and EUR 65.7 million in respect of IFC.

As at the end of 2016 total financing of the Bank in the form of loans received from financial institutions amounted to approx. PLN 22.4 billion and included funds denominated in PLN, EUR, CHF and USD.

PKO Bank Polski SA participates in The 2020 European Fund for Energy, Climate Change and Infrastructure (the ‘Marguerite Fund’) project, capital involvement in the above mentioned fund in 2016 amounted to EUR 54.6 million. PKO Bank Polski SA takes part in the above mentioned project as the only Bank operating in one of the new European Union members which was awarded the status of ‘Core sponsor’. The ‘Marguerite Fund’ was established in 2009 for 20 years and currently implements investment projects such as green-field and brown-field in the energy and the road sector in Poland and other European Union countries.