The EBRD's guarantee will enable BNPPBP to lend €100 million worth of sub-loans to private individuals for residential energy efficiency improvements, renewable energy investments, and investments in sustainable transport.

Under the programme, BNP Paribas Bank Polska will offer funding for private individuals to replace outdated heating systems and comprehensive thermal upgrades in single-family homes across Poland.

The scheme is expected to benefit single-family homeowners, representing almost 40 percent of Poland's residential building stock. This will help address issues such as Poland's residential housing sector's high energy and carbon intensity and assist the country in moving towards a low-carbon economy by reducing its annual energy consumption and greenhouse gas emissions. It will also help address the country's pressing air pollution challenges, which stem in large part from the residential heating, which relies on coal-fired boilers and accounts for around 40 percent of Poland's total energy.

The project fully aligns with the EBRD's Green Economy Transition (GET) approach. The EBRD's guarantee benefits from EU partial first loss risk cover and is accompanied bythe technical assistance provided under the InvestEU Programme. 

Andreea Moraru, EBRD Regional Director for Poland and the Baltic States, said: “We are pleased to continue our successful cooperation with BNP Paribas Bank Polska and further scale up energy efficiency financing in Poland. By modernising and decarbonising the Polish residential and transport sector, we are supporting Poland's green transition and improving the comfort and quality of life for residents.”

Jarek Rot, Chief Sustainability Officer and Executive Director of Sustainability Area of BNP Paribas Bank Polska, said: “Residential green financing is one of the key elements of BNPPBP's strategy concerning energy transformation. Thanks to efficient cooperation with EBRD, the bank will be able to further increase its engagement in projects related to energy efficiency improvements and renewable energy”.

Adam Hirny, Director of the Sustainable Business Development Department in BNP Paribas Bank Polska, summed up the project: “Investing in new heat sources is a significant but unavoidable expense for our clients. To ease this process, we at BNP Paribas Bank Polska, together with EBRD, remain strongly committed to supporting this transition using available EU instruments, such as InvestEU guarantees. We believe this will lead to energy savings, which will be reflected in reduced energy bills, improved quality of life and increased property values”.

BNP Paribas Bank Polska is a universal bank and the sixth largest bank in Poland. It offers sustainable financing products to a broad range of customer segments and aims to be a leader in sustainable finance. The bank is majority owned by the BNP Paribas Group, with the EBRD holding a minority stake.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial privateand public funds in support of a sustainable recovery and growth. It also helps mobilise private investments for the European Union's policy priorities, such as the European Green Deal and the digital transition.

The EBRD is a leading institutional investor in Poland, having invested almost €16 billion in the country to date across 560 projects, including a record €1.43 billion in 2024.