EIB Group and KFW support Europejski Fundusz Leasingowy to provide additional lending for SMEs and Mid-Caps in Poland

The European Investment Bank (EIB) and the European Investment Fund (EIF) – jointly the EIB Group – and KfW (Kreditanstalt für Wiederaufbau) have participated in a securitisation transaction in Poland originated by Europejski Fundusz Leasingowy (EFL), a member of the Crédit Agricole group.

In the transaction, which is EFL’s first securitisation, a total of PLN 1,798m (approximately EUR 425m) of bonds have been placed with European and domestic financial institutions. The transaction is backed by a portfolio of lease receivables with a principal balance of PLN 2,220m (approximately EUR 524m). The transaction is one of the largest of this type in Poland and has wider implications for the Polish leasing market. The proceeds will contribute to fund EFL leasing activities, supporting the development of SMEs and thereby growth in Poland.

The EIB, as a leading investor in the transaction, bought bonds in an amount of PLN 1,057m. KfW, alongside a domestic private investor, purchased a total PLN 741m of bonds under a guarantee provided by the EIF. 

The joint participation of EIB Group and KfW is done under ENSI, the EIF-NPIs Securitisation Initiative, which is a cooperation platform between EIB Group and National Promotional Institutions (NPIs), aiming to facilitate SMEs’ access to credit. The ENSI cooperation started in early 2016. To-date, one Portuguese, three UK, three German and five Italian transactions have been closed under this program.

About EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About KfW

KfW is one of the world’s leading promotional banks. With its decades of experience, KfW is committed to improving economic, social and ecological living conditions across the globe on behalf of the Federal Republic of Germany and the federal states. To do this, it provided funds totalling EUR 81 billion in 2016 alone; and of this, 26% (EUR 21.4 bn) went into the promotion of small and medium-sized enterprises (SME) including individual entrepreneurs and start-ups. In addition to providing loans, equity and mezzanine financing, KfW supports capital market financing for SMEs by investing in related securitisations.

Press contacts:

EIF:
David Yormesor
Tel.: + 352 24 85 81 346
E-Mail: d.yormesor@eif.org