German bank grants BGK €100 million loan
17:12
State-controlled lender Bank Gospodarstwa Krajowego has obtained a €100 million loan from German state-owned development bank KfW to finance loans for small and medium-sized companies, the representatives of both banks informed during a meeting with journalists.
“We are strengthening our cooperation with BGK and we intend to develop it further. The €100 million loan is a symbolic beginning of our cooperation with BGK,” Ulrich Schroeder, CEO of KfW, said. KfW is the biggest development bank in Europe, with assets totaling €45 billion and annual volume of financing at €70 billion. Kfw grants loans to SMEs, public institutions and individuals in Germany, as well as supports exports and investments abroad. Before the €100 million loan, the KfW's presence in the Polish market amounted to €340 million.
