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Bank Gospodarstwa KrajowegoPoland adopts draft law amending Development Cooperation Act
The Council of Ministers has adopted a draft law amending the Development Cooperation Act and certain other laws, Poland's government information centre CIR reported in a statement. The law will enable Poland's state development bank BGK to apply for EU funds and provide development assistance outside the country, including to support modernisation and reconstruction of Ukraine.
"Thanks to this, Poland will gain an instrument of economic influence abroad and convenient financing of development cooperation, which will indirectly benefit, among others, Polish enterprises operating in Ukraine," CIR stated.
"Development cooperation is support for other countries e.g. in democratisation, systemic transformation, stimulation of economic growth and implementation of socio-economic reforms," it added.
BGK, through the Financial Instrument for Development Cooperation (FIWR), will provide, among others: loans and credits (also at preferential interest rates), portfolio guarantees, grants and technical assistance.
BGK's activities are to be coordinated with the Multiannual Development Cooperation Plan, adopted by the Council of Ministers.
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