Creditors Support Fund to be activated in January 2016

Creditors Support Fund (Fundusz Wsparcia Kredytobiorców) will be launched at the beginning of January next year by state-controlled BGK, its CEO Dariusz Kacprzyk told the media. Establishment of the fund is in line with the bill aiming to support those mortgage creditors whose financial situation is complicated. "The fund will help  people who are facing difficulties, such as the loss of a job or serious illness," Krzysztof Kalicki, the CEO at Deutshe Bank Polska told Gazeta Wyborcza daily. Experts claim that the institution will increase the level of social responsibility in banking. The fund is to be valued at PLN 600 million, it is to be financed by lenders operating in Poland. Kacprzyk said that BGK has been in talks with lenders to sign partnership agreements.