BGK to support innovation

In line with the agreement with the Ministry of Development, state-controlled Bank Gospodarstwa Krajowego (BGK) has established a guarantee fund for the development of innovation in small and medium enterprises (SMEs). So far, the fund has been boosted with PLN 250 million, but Polish SMEs may acquire loans of over PLN 400 million in total. Guarantees will be launched in February. The fund was created in frameworks of one of the EU programmes, Innovative Economy.