EIB loan of EUR 250 million for Science and Innovation in Poland

October 15, 2004

Luxembourg, 14 Oct 2004

The Science and Innovation Framework Loan will support projects that are included in Poland's current and future Research and Innovation Investment Programmes. The EIB loan will fund budgetary allocations of the State and thus contribute to the realisation of selected science and innovation investment projects.

The EIB loan will provide long-term finance to ensure the smooth implementation of the Government's priority investment projects.

Poland is committed to contributing significantly to the EU's Lisbon Strategy, which aims to make Europe the world's most innovative and competitive region by fostering R&D and innovation. Polish R&D spending by both government and businesses is low by international standards and, due to budgetary constraints, has even been on a declining trend in recent years. This needs to be reversed.

When signing the loan contract, the EIB's President, Philippe Maystadt, said: "In the longer term, investment in human capital and R&D are the key to economic and social progress. For this reason, the EIB lends strong support to the EU's Lisbon Strategy. It is committed to financing investment in R&D and innovation with loans worth EUR 40 billion in the period up to 2010. We are pleased to support public investment for R&D in Poland and thus assist the country in improving essential research capabilities, enhancing academic infrastructures and harnessing technological innovations".

Dusan Ondrejicka
T: +352 43 79 31 50
Email: d.ondrejicka@eib.org
Sabine Parisse
T: +352 43 79 31 38
Email: parisse@eib.org

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