@MattN yes, a subspace is said to be complemented if it is the image of a continuous projection. People say $K$-complemented if there's a projection of norm $\leq K$.
@MattN the question is whether it works in an arbitrary Banach space. Hahn-Banach only gives you a projection of norm $n$ or $\sqrt{n}$ if you're a bit more clever but you can't do much better in general.