22:22 11 February 2025
Polish government drafts law to help BGK provide aid abroad
On Tuesday, the Polish government approved a bill amending the Development Cooperation Act, allowing Bank Gospodarstwa Krajowego (BGK) to provide foreign development assistance. This expansion aims to support Ukraine’s modernization and reconstruction, while also creating economic opportunities for Polish businesses operating abroad.
Currently, Poland lacks a financial institution that channels domestic and foreign funds for development cooperation. Under the new law, BGK will function as an international development bank, securing EU and international funding. A Financial Instrument for Development Cooperation will be created to manage budgetary and foreign funds, enabling long-term financing in third countries. The law will take effect 14 days after its publication in the official journal.
(PAP)
