The European Investment Bank, the long-term financing arm of the EU, today hosted an event in Katowice, Poland: EIB Financing of Municipalities in Poland. Keynote speakers at the event included among others Ms Elżbieta Suchocka-Roguska, Undersecretary of State, Polish Ministry of Finance, Mr Piotr Uszok, Mayor of Katowice, and Mr Miroslaw Czekaj, Deputy President of Bank Gospodarstwa Krajowego.

The all-day seminar consisted of presentations by distinguished speakers and from EIB staff, followed by a press conference attended by various members of local and European media. The presentations were complemented by three workshops outlining the scope and potential of EU funding on offer to local governments in this new Member State.

Discussion highlighted the importance placed on municipality funding by the European Investment Bank to promote infrastructure and urban development in new Member States. Speakers drew attention to the fact that although most financing to date had been granted to larger Polish cities, as a result of EIB cooperation with local public and private banks in Poland in the form of Global Loans, all municipalities, irrespective of size, have access to this significant source of Community funding.

Thomas Hackett, recently appointed EIB Director General for Lending Operations in Europe, stressed the financing opportunity presented to Polish municipalities by the EIB, stating that EU membership in conjunction with the increased support offered by EU grants is set to fuel the pipeline of projects in the country and it is hoped that financing of municipalities for urban development in smaller cities will make up a significant proportion of future lending operations.

Thomas Hackett also took the opportunity to underline EIB cooperation with the Commission, national authorities as well as with the banking sector in Poland for the financing of municipal projects. The seminar was attended by some 140 representatives of local governments and the banking world.