BGK: first social housing expected in 2017

Polish state-owned bank, Bank Gospodarstwa Krajowego (BGK) is willing to give a loan of PLN 4,5 million for social housing in the next ten years. The housing will be built by the Polish Association for social building (TBS), housing cooperatives and communal companies. According to the director of the social building departments of BGK Dariusz Stachera, preferential credit applications can be submitted from November 2015 to February 2016. Therefore he estimates that the first investors will start building in 2016 and thus they will not be ready for use before 2017. Stachera added that "looking at the bank's experience, social housing has been constructed in large cities such as Warsaw, Wrocław and Poznań, but also in smaller places like Kamienna Góra or Rypin. I think that those investments will arouse interest in large cities as well as medium and small municipalities."