Over the past 20 years, joining the European Union spurred significant economic growth in these countries, but the pace is now slowing, she said.
In an interview with Poland's PAP news agency, Czerwińska detailed that while the initial 10 years post-EU accession saw robust economic convergence, in terms of GDP per capita at purchasing power parity, the subsequent period has shown a marked slowdown.
This is partly due to the "statistical base effect," she said, where early gains are naturally higher when starting from a lower base.
She noted a slowdown in business innovation, with companies facing higher energy costs and diminishing comparative advantages.
Czerwińska’s comments underscore the urgency for CEE countries to innovate and adapt to sustain growth and competitiveness in an evolving economic landscape, the PAP news agency reported.
Czerwińska also urged CEE countries to better utilize the capital market, highlighting Poland as a leader in using EU funds, primarily grants.
She advocated for a shift towards more sophisticated financial instruments that mix grants with capital market tools, offered by the EIB Group, including the European Investment Fund.
"From the EIB's perspective, we particularly value issues related to the development trajectories and investment barriers of Central and Eastern European economies," Czerwińska said.
"When we look at the region's economy from a macro perspective, it is quite clear that 20 years in the EU have led to a dramatic increase in virtually all macroeconomic parameters," she added.
Czerwińska's EIB has contributed to a report released on Tuesday at the Karpacz Economic Forum in southern Poland.
The report, co-authored by the Warsaw School of Economics (SGH), summarizes key economic and social processes in Poland and other CEE countries. Topics include development trajectories, green transformation and investment barriers in the region.
From the EIB's contributions to the report, it emerged that investment gaps in the CEE region remain larger than the EU average, according to the PAP news agency.
Although 78 percent of CEE companies reported adequate investment levels recently, this is slightly below the EU's 82 percent. Innovation activity in the CEE matches the EU average, with over 40 percent of companies in the region having developed or introduced new products, processes or services.
The report also reveals that 65 percent of companies in the CEE have used one or more advanced digital technologies, slightly below the EU average of 70 percent. The main long-term barriers to investment cited were uncertainty about the future (86 percent) and the availability of skilled workers (79 percent).
The European Investment Bank is a European Union financial institution that provides long-term loans to the bloc's member states and international partners.
(rt/gs)
Source: PAP