EIB backs Polish defense with EUR300 million for Earth observation satellites

The European Investment Bank (EIB) has announced a significant investment in Polish security and space technology. They are providing a EUR300 million ($326 million) loan to Bank Gospodarstwa Krajowego (BGK) to fund the development and launch of two Earth observation satellites.

This project aligns with the EIB Group's new Security and Defence Industry Action Plan, aiming to bolster investments in this critical sector. The satellites will be equipped with high-resolution imaging capabilities, offering valuable data for both civilian and defense applications in Poland.

Earlier, in January 2023, Airbus Defence and Space signed a contract for two Airbus' S950 Optical satellites. The contract also covers the associated ground segment, including Direct Receiving Station in Poland, launch services, training for the Polish team, maintenance and technical support for the space and ground systems. These stations will be utilized by various Polish government entities, including the Ministry of Defence, Ministry of Interior, and the Polish Space Agency.

The anticipated operational launch date for the satellites is set for 2028.

This EIB investment signifies a major step forward for Poland's space industry and national security. The high-resolution data gathered by the satellites will empower Polish authorities in various areas, potentially including border monitoring, disaster management, and environmental observation. The project also contributes to the advancement of European space technology by supporting the development of cutting-edge Low Earth Orbit (LEO) satellites.