The European Investment Bank will allocate EUR 300 million to Poland for satellite development

The European Investment Bank (EIB) has announced a €300 million loan to Poland for the development and launch of two surveillance satellites. They will provide high-quality images for civilian and defence purposes.

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The EIB is providing a €300 million loan to Polish bank Bank Gospodarstwa Krajowego (BGK) to support the project. This investment is aimed at developing the European space industry through the use of advanced satellite technologies in low-orbit space. The decision follows the approval by the EIB Board of Directors of the Group's new Security and Defence Action Plan, which aims to increase investment in this strategically important sector.

During her first visit to Poland since her appointment, EIB President Nadezhda Calvigno noted that the priorities of the EIB and the Polish government are fully aligned. According to her, Polish membership in the EU has become a vivid example of the benefits of cooperation with the European Union. She expressed her pride that the EIB Group was a key player in this success and stressed the importance of investing in Poland's development.

The EIB plans to invest €300 million in the country's first terrestrial satellite system, which will support a range of civil and defence initiatives. This will allow Poland to join the space industry and commit to the EU's space autonomy.

The project involves the development, assembly, testing and launch of a pair of satellites capable of capturing high-resolution images. It also includes two ground stations to control the satellites and download the images. The two satellites are scheduled to be operational by 2028.

Source: Defence Industry Europe