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Bank Gospodarstwa KrajowegoPoland secures EUR 175 mln guarantee from EC to finance investments in Ukraine
Poland's state development bank BGK and the European Commission have signed an agreement under the EU’s Ukraine Facility programme for a EUR 175 million guarantee to finance investments in Ukraine, the bank announced.
The signing of the guarantee agreement means that the EU assumes the risk associated with loans granted by BGK. The guarantees will enable the bank to offer preferential investment loans in the energy, transport and manufacturing sectors, including dual-use sectors.
"Thanks to the Commission's guarantees and an additional EUR 20 million from the Development Cooperation Instrument, BGK will be able to finance the investment needs of, among others, Polish entities interested in investing in Ukraine, to the tune of EUR 195 million," said Marta Postula, first deputy chair of the bank, as quoted in a BGK press release.
"An additional advantage is the possibility of obtaining grants for Polish investments carried out in Ukraine," she added.
Preferential loans ranging from EUR 5 million to EUR 50 million will be granted for a loan term of up to 15 years, with a grace period of up to two years. The required investor contribution is 25 percent.
jz/ han/ tom/
