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European Investment Bank to invest €300 million in Poland's satellite program

20.05.2024 15:00
The European Investment Bank (EIB) has committed to investing €300 million in Poland's satellite program, EIB President Nadia Calviño announced.
Polish Prime Minister Donald Tusk and the head of the European Investment Bank, Nadia Calvio.
Polish Prime Minister Donald Tusk and the head of the European Investment Bank, Nadia Calviño.Photo: PAP/Leszek Szymański

The investment is part of the EIB's new action plan for security and defense.

Polish Prime Minister Donald Tusk praised the agreement, stating that it represents a significant advancement in the plan to build an "iron dome" over Poland and Europe.

"Today we can count on very cheap, favorable loans for investments that will serve civilian tasks and at the same time promote our defense and security," Tusk said after his meeting with EIB President Calviño in Warsaw on Monday.

He emphasized the importance of the bank’s involvement in the Polish satellite program, which is being implemented in cooperation with France.

Calviño noted that the investment marks the EIB's first action under its new security and defense plan. She recalled that the bank has already invested nearly EUR 100 billion in Poland, financing infrastructure projects such as roads, railways, energy transition, offshore wind energy, and the Warsaw metro.

"Poland is a great example of success, of taking advantage of the benefits of EU membership. We will always be a trusted partner of Poland to ensure prosperity and development," Calviño stated during her joint speech with Tusk.

Tusk expressed his gratitude to the EIB for its continued support, saying that the “EIB's readiness to support our plans for security, protection, and defense of Polish and European borders" was crucial for his country.


Source: PAP

Click on the audio player above to listen to a report by Radio Poland's Michał Owczarek.