The European Bank for Reconstruction and Development (EBRD) has invested €40m (£33.4m) in Poland’s CVI Private Debt Fund II.

The fund is managed by CVI Dom Maklerski, a Polish private credit focused fund manager.

The new investment brings the fund’s total capital commitments to €181m.

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The fund provides flexible debt financing solutions to underserved small and medium-sized enterprises (SMEs) in Poland and across the wider Central and Eastern Europe (CEE). It takes a sector-agnostic approach and issues senior loans to a variety of companies.

Investors in the fund include the European Investment Fund, the International Finance Corporation, the Polish Development Fund, and some local private investors.

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“We are pleased to strengthen our cooperation with an established investor such as CVI, to support innovative debt financing solutions for underserved SMEs in Poland and the wider CEE,” said Andreea Moraru, EBRD’s regional head of Poland and the Baltic States.

“The EBRD’s commitment, alongside that of the other development finance institutions and local private commercial investors will also provide a strong signal to the market and help CVI attract additional institutional capital for the fund.”

The EBRD is a leading institutional investor in Poland, having invested almost €16bn in the country to date across 560 projects, including a record €1.43bn in 2024.

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