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The EIB joined the Economic Forum in Karpacz, Poland (7-9 September), to discuss the perspective of a post pandemic world with experts, business representatives and policy makers coming from the Polish political, economic and academic scene.

The COVID-19 crisis is not over yet and we must continue to roll out the measures and the policies that we have developed a year ago to support our societies and economies. Vaccines however give us the hope that we can move forward gradually. 

Teresa Czerwińska, Vice-President of the EIB, emphasised that Europe and Poland should take action for climate and a sustainable environment and the digital transformation of our economies, which connects to a more general drive towards innovation. We often refer to them as the green and digital “twin transitions”. 

Grzegorz Rabsztyn, Director of the EIB’s office in Poland, explained that the Bank deployed over €1 billion of financing in 2020 for projects linked to innovation, including for medical firms like Scope Fluidics and electro mobility firms like LG Chem and Umicore.

Green and digital – the twin transitions

The European Green Deal aims to make Europe a climate neutral continent by 2050. The EIB is part of the solution thanks to its Climate Bank Roadmap, which earmarks at least 50% of its financing to climate action and environmental sustainability and aligns the Bank with the Paris Agreement. 

As for digitalisation, it is more than just implementing online services. It is about changing and adapting the way we work, move, produce and learn. Innovation at large benefits entire sectors.  

The digital revolution and the leap to a green, carbon neutral economy are particularly important for Poland as these so-called “twin transitions” are profoundly connected in the country. To achieve the transformation of its energy system, still reliant on fossil fuels, Poland will need to invest significantly in innovation, so that it can decarbonise successfully and fairly, embrace renewables, imagine and adopt energy efficiency solutions for our way of life. 

The EIB Group, including the EIB and its subsidiary – the European Investment Fund, is ready to scale up its support to public and private sector companies and institutions that will embark on a green, digital and inclusive transformation. “We need to make this effort now to make our societies more resilient to future shocks and more prosperous,” said Vice-President Czerwinska.

Read more about the EIB in Poland