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Bank Gospodarstwa KrajowegoPoland's development bank, Polish Armaments Group sign agreement on PLN 1 bln bank guarantees
Poland's state development bank BGK and the Polish Armaments Group (PGZ) have signed an agreement on bank guarantees worth PLN 1 billion (EUR 236.1 mln), BGK announced in a statement. As indicated, this is the first agreement under the cooperation announced during the International Defence Industry Exhibition in Kielce.
"The guarantee line will secure the contractual obligations of PGZ companies – from the tender stage, through production, to after-sales service. It will also facilitate the acquisition of collateral required when concluding contracts for the supply of military equipment for the modernisation of the Polish Armed Forces," BGK said in the statement.
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