Luxembourg, 20/12/2007 (Agence Europe) - The European Investment Bank (EIB) is providing PLN 420 million (PLN, around €116 million) to Millennium Leasing Sp.z o.o. for financing small-scale investments ranging from €10,000 - €250,000. This operation will improve the access to long-term financing of Polish SMEs as well as of micro-enterprises with fewer than ten employees. The EIB funds will finance projects in the areas of services and industry. This financial operation is structured as a purchase of senior asset based securities (ABS) that are backed by claims from leasing contracts originated by Millennium Leasing, a leading Polish leasing company. This structure is being used in Poland by the EIB for the second time and enables the Bank to be involved in financing SMEs by other means than by providing its funding via traditional intermediated loans. This is the first EIB operation with Millennium Leasing and it is being developed in cooperation with the European Investment Fund, which is involved in the ABS structure as a guarantor. (O.L.)