Euro bank reports satisfactory year for development projects

The EBRD does not reveal the results achieved in any of its projects and only an estimated value of the bank's investments in Poland are known. This year the figure stood at EUR350-500 million while last year it was EUR292.5 million. "We will know the final figure by the end of the year. We are currently unsure whether we will be able to confirm all the planned projects this year," added Alain Pilloux. These plans include guarantees for mortgage credits from BRE Bank Hipoteczny, a loan for the Belchatów power plant, and a loan for the local government of Kraków for the modernization of the heating system. The EBRD representative said that the investments are long-term and that the bank does not plan to withdraw from its key investments in Poland any time soon. (Parkiet, p. 5) A.K.