DCM Pekao MREL

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IFC proposes an investment of up to $250 million (in US dollar, euro, or Polish zloty equivalent) for IFC's own account in securities eligible under the Minimum Requirement for own funds and Eligible Liabilities framework (MREL), to be issued by Bank Pekao S.A. (Pekao or the Bank), the second-largest bank in Poland and a new client for IFC. The proceeds of the IFC investment will be fully earmarked to climate finance projects in Poland, with at least $50 million of the proceeds to be used for blue finance projects. The eligible financing categories include renewable energy, green buildings, clean transportation, energy efficiency, sustainable water and wastewater management, and pollution prevention and control (the Project). Pekao will identify, assess eligibility, underwrite and manage sub-projects falling into the eligible financing categories, as well as ensure allocation of the proceeds under the IFC investment and its sustainable bonds, using the Sustainable Finance Framework established in 2023. The framework is fully in line with relevant market standards and best practices, and has received a positive second party opinion.