BGK with a PLN 1 bln loan program for telecoms

State-owned lender BGK has launched a PLN 1 billion loan program targeting the development of high-speed internet infrastructure, signing the first agreement with state-controlled Alior Bank. “We assume that by the year 2023 we will spend PLN 1 billion for loans to telecommunications companies for the development of high-speed Internet infrastructure. We’re talking with several banks, Alior is the first to join us,” BGK CEO Beata Daszyńska-Muzyczka said. Through Alior, PLN 40 million will be loaned over the course of the next 2 years, with the possibility of increasing the pool to PLN 100 million, of which PLN 10 million, will come from Alior’s resources. A single loan can range from PLN 20k to PLN 10 million. The so-called “broadband loans” are intended for telecommunications companies, which plan on investing in the construction, extension or reconstruction of a telecommunications network providing access to broadband internet (with a capacity of at least 30 Mbps for households and enterprises and 100 Mbps for schools).