BGK to invest PLN 6 bln in infrastructure projects

Poland's state owned lender BGK will sign deals worth some PLN 6 billion for an infrastructure investment program in 2015 and will channel funds to support Polish exports and a rental real estate fund, said Dariusz Kacprzyk, CEO of the bank.

"I believe that from [submitted] projects we will be able to realize the pre-announced volume and sign agreements for PLN 6 bln," said Kacprzyk. "I am entirely confident this amount will be reached." Projects submitted to BGK come from the industry sector (87), local governments (19), the energy sector (16), and transport (15), the CEO added. Entities from other sectors submitted 76 motions for BGK financing. The sum will increase BGK's involvement in the Polish Investments program (Polskie Inwestycje Rozwojowe - PIR) to PLN 27 billion. The lender has also earmarked PLN 1 billion for purchasing several hundred apartments and thus develop Poland's rental market. Apart from that, the lender will spend PLN 1.8 billion for support of Polish exports.