The European Bank for Reconstruction and Development (EBRD) has extended a €50m (£44m) loan to Poland-based BZ WBK Leasing – part of the Santander group – to finance local businesses’ energy and resource efficiency investments.

The loan signalled the launch of a €350m EBRD fund dedicated to green asset finance in Poland, called the Polish Green Economy Financing Facility for Leasing. It forms part of EBRD’s commitment to dedicate 40% of its investments to green energy by 2020.

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Noel Edison, EBRD director and head of insurance, financial services and financial institutions, said: “We are very pleased to launch this new green facility and especially happy to do so with BZ WBK, a long-standing partner of the EBRD.

“This new approach will make funds available to support individual companies in making investments which will contribute to improving the environment. This new facility demonstrates how the EBRD can contribute to supporting Poland’s efforts to improve its environmental balance.”

Tomasz Jąder, vice president of BZ WBK Leasing, added: “I am very happy that we will continue our cooperation with the EBRD, which has enabled us to finance the development of our clients for many years.

“This credit line and the framework are particularly important to us because it means we will contribute, through our joint investments with clients, not only to improving the efficiency of our clients’ businesses but also to improving the quality of our environment and, as a consequence, the quality of life for us all.”

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BZ WBK Leasing, based in Poznań, is a subsidiary of the Bank Zachodny WBK group. Santander has owned the group since 2011.