EIB to provide loans for Polish strategic investments in energy and science

Polish deputy PM Mateusz Morawiecki and EBI Vice-President Vazil Hudák, Krynica, Poland (EIB, Public domain)

Eesti Energia with the first contract in Poland

Hungary and Slovenia don’t want Romania and Croatia in the OECD

Poland

The European Investment Bank will provide loans for Poland’s strategic investments in the energy sector and science. As the Polish Radio reports, there will be two streams of funds. First loan of EUR250m will boost Polish energy company Energa. It will finance an upgrade and extend of its electricity distribution network in the northern and central Poland. EUR730m, the second stream of funds, will go for research, development and innovative activities in scientific organizations,  universities and enterprises.

The deal was signed during this year’s Economic Forum in Krynica Zdrój, in southern Poland. The Polish side was represented by Poland’s Deputy Prime Minister Mateusz Morawiecki.

In 2016 the EIB granted loans worth EUR4.44bn to help finance projects in Poland.

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Estonia – Poland

Estonian state-owned energy giant, Eesti Energia will sell energy products to companies and industrial customers in Poland. As the Baltic Course reports, the company’s subsidiary Enefit has already signed its first contract in Poland.

In 2018 Eesti Energia plans to “set its Polish enterprise, build a customer portfolio and actively increase it”. The portal quotes Kaarel Kuusk, head of media relations at Eesti Energia, saying that all the necessary systems have been launched, the team has been created and the company has started active sales. According to the plan announced by the CEO of Eesti Energia, Mr. Hando Sutter, the company wants to achieve up to 5 per cent market share.

Eesti Energia group consists 23 companies with 5,850 FTEs. The company operates in Estonia, Latvia, Lithuania, Poland, Germany, Jordan and the United States.

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OECD

Hungary and Slovenia don’t want their neighbors, Romania and Croatia, in the Organisation for Economic Cooperation and Development (OECD). As Balkan Insight reports, during the debate in Paris Hungary and Slovenia will veto Romania and Croatia’s membership. It is said this is due to disagreement over minority rights and border demarcation.

According to The Balkan Insight Hungary has revealed its position on September 6th, explaining it would block Romania’s membership application “over the closure of a Hungarian-language Catholic school in Transylvania”. At the same time Slovenia wants to block Croatia for disrespecting “arbitration verdict on the disputed maritime border in the Piran Gulf”.

OECD was established in 1961. It has 34 member states. Romania applied for OECD membership in 2012. 

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What’s up in indexes

BET (of Bucharest) decreased from 8,015.73 index points Wednesday, September 6th to 7,979.17 index points Thursday, September 7th. to It’s down 0.46 per cent d/d and up 12.60 per cent y/y.

BUX (of Budapest) decreased from 37,878.86 index points Wednesday, September 6th to 37,783.51 index points Thursday, September 7th. It’s down 0.25 per cent d/d and up 31.91 per cent y/y.

CROBEX (of Zagreb) decreased from 1,888.90 index points Wednesday, September 6th to 1,883.67 index points Thursday, September 7th. It’s down 0.28 per cent and up 2.57 per cent y/y.

OMXR (of Riga) decreased from 996.48 index points Wednesday, September 6th to 996.18 index points Thursday, September 7th. It’s down 0.03 per cent d/d and up 46.37 per cent y/y.

OMXT (of Tallinn) increased from 1,265.61 index points Wednesday, September 6th to 1,265.96 index points Thursday, September 7th. It’s up 0.03 per cent d/d and up 26.53 per cent y/y.

OMXV (of Vilnius) increased from 645.49 index points Wednesday, September 6th to 647.29 index points Thursday, September 7th. It’s up 0.28 per cent d/d and up 20.41 per cent y/y.

PX (of Prague) decreased from 1,024.95 index points Wednesday, September 6th to 1,019.15 index points Thursday, September 7th. It’s down 0.57 per cent d/d and up 15.63 per cent y/y.

SAX (of Bratislava) increased from 328.84 index points Wednesday, September 6th to 332.55 index points Thursday, September 7th. It’s up 1.13 per cent d/d and up 2.87 per cent y/y.

SOFIX (of Sofia) decreased from 705.93 index points Tuesday, September 5th to 705.87 index points Thursday, September 7th. It’s down 0.01 per cent d/d and up 50.43 per cent y/y.

UX (of Kyiv) increased from 1,132.00 index points Wednesday, September 6th to 1,137.57 index points Thursday, September 7th. It’s up 0.49 per cent d/d and up 48.56 per cent y/y.

WIG20 (of Warsaw) decreased from 2,512.40 index points Wednesday, September 6th to 2,491.79 index points Thursday, September 7th. It’s down 0.82 per cent d/d and up 37.67 per cent y/y.

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