EBRD provides €75 million loan to Bank Zachodni WBK

The European Bank for Reconstruction and Development (EBRD) is going to provide a loan of up to €75 million to Bank Zachodni WBK to finance investments that will improve the energy and resource efficiency of residential buildings in Poland. The funds will be used for sub-loans in the local currency to homeowners, housing associations and private sector providers for projects that will tackle the high energy and water consumption of the Polish residential sector. The residential sector in Poland consumes about 40 percent of the country’s primary energy. The heating of residential building stock in Poland depends on coal and uses the largest share in the residential sector of the EU. The EBRD facility is designed to lessen this dependence on coal by improving energy efficiency and reducing waste. As residential properties consume 53 percent more energy per sqm than the EU average, improvements in this area will also support the country’s efforts to reach its CO₂ emission targets.