Karolina Piorkowska

Mid Associate

Karolina specialises in project financing, asset financing and general lending, acting for borrowers, investors and lenders in Poland and the wider CEE region. She has extensive experience in advising on complex and innovative transactions in the fields of projects, energy, natural resources and infrastructure, as well as in other sectors such as real estate and defence. Karolina is a qualified advocate and a member of the Warsaw Bar Association. She joined Allen & Overy in 2015 and has since been involved in some of the most significant and high-profile deals in the Polish and regional markets.


Representative matters

ECA and lenders on an ECA-covered and direct loan for the Polish State Bank in connection with a Polish Armament Agency contract.

DIF Capital Partners on financing for the development of four wind farm projects in Poland, with a total capacity of 108MW.

Foreign export agencies on the construction of the Olefins III petrochemical complex – the largest petrochemical investment in Europe in the last 20 years and the largest petrochemical project in Central and Eastern Europe.

Polenergia on a PLN480m financing for the construction of a 121MW wind farm in Dębsk.

EIB, EBRD and ING Bank Śląski on the PLN392.5m financing for the Warsaw Metro’s acquisition of new metro cars to be operated on both metro lines in Warsaw.

Pro bono

Karolina is a member of the firm's pro bono and community investment committee.


Key Lawyer in Banking and Finance practice, Legal 500, 2023



Warsaw Bar Association, 2021 (Advocate)


MA, Faculty of Law and Administration, University of Warsaw, 2017
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.