BGK signs a €300 mln deal with Kazakhstan's bank

Poland's state-owned lender Bank Gospodarstwa Krajowego (BGK) has signed a framework agreement on cooperation with the Development Bank of Kazakhstan. An overall potential of cooperation has been estimated at €300 million (PLN 1.3 billion). The signing of the document took place at the Presidential Palace in the presence of Presidents Andrzej Duda and Nursultan Nazarbayev.

"The aim of the agreement is the development of economic cooperation between Poland and Kazakhstan and long-term cooperation between both banks," a statement informed.

BGK is the only Polish bank that belongs entirely to the Treasury. It was established in 1924 as part of the Act to promote government socio-economic programs and programs for local government and regional development.