An investment worth €50 million (€36m) will be made in Poland to boost energy efficient projects.

The European Bank for Reconstruction and Development (EBRD) will provide the money to a Polish bank.

It will give a share of the loan to local small and medium-sized businesses which are seeking to reduce their energy costs.

Around 70% of the fund will be used to develop the projects and 30% will be invested in efficient equipment.

Noel Edison, EBRD Director for Insurance and Financial Services said: “The EBRD is proud to sign this loan agreement as it provides us with another opportunity to support energy efficiency improvements in the Polish economy. This is not only good for the environment but also good for the competitiveness of local enterprises.”