Poland sets up SPV for its investment program
January 2, 2013
Poland’s Treasury Ministry officially set up a special purpose vehicle CSI for its investment program Polish Investments, the Ministry wrote in a statement on Sunday.
Back in October Poland announced a plan to bolster investment spending in the economy, especially in 2013 and 2014, by handing state assets to state bank BGK which can leverage the fresh capital to support key investments. An SPV, Celowa Spolka Inwestycyjna (CSI), was to be tacked on to offer potential equity investments. BGK and CSI can achieve a planned PLN 40 billion in financing capacity.
Last week the government decided Poland would capitalize BGK and CSI with its stakes in listed firms PGE, PKO BP, PZU and Ciech.