Poland’s National Development Bank to increase its lending capacity

According to a report on Thursday morning in Puls Biznesu, the government plans to recapitalize bonds worth PLN 3 billion in an effort to increase lending possibilities in Poland. “Reinforcing the capital of the bank (finances) the plan of Development Minister Morawiecki…the most (significant) part of the planned investment is to be covered from EU funds and from BGK,” the report read. Recapitalizing the National Development Bank (known as the BGK) would allow for higher dividends, and also open up the possibility of lending as much as PLN 100 million to individual companies. The BGK has a completely new board this year, and the move would be in line with the new government’s ambitious economic development plan, the report indicated.