The Warsaw Voice » Business » News - November 14, 2013
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Bank BGK launches guarantees for investment loans
   
Jacek Rostowski
Poland's state-owned special purpose bank BGK will offer 'de minimis' guarantees for investment and development loans to small and medium enterprises as of 2014, according to a deal signed by BGK with 22 banks on Wednesday.

New guarantees will be granted until end-2015. The maximum amount of the guarantee can reach PLN 3.5 mln or 60% of credit value.

The program is aimed at improving the liquidity of small and micro companies.

During a conference following the signing of the deal, Finance Minister Jacek Rostowski said the Polish government has already asked the European Commission to increase the maximum guarantee sum.

"We are already talking to the European Commission, we filed documents so that the maximum amount of the guarantee could be increased," Rostowski said. "We hope that the Commission will agree to significantly increase the guarantee sum."

Finance Ministry previously said Poland eyes granting PLN 22 billion worth of guarantees in the 2013-2015 period.