Polish Investments to support local projects

Bank Gospodarstwa Krajowego (BGK) and Polskie Inwestycje Rozwojowe (PIR), the operators of the Polish Investments program, have established the Local Infrastructure Fund, BGK said in a press release on Wednesday. The fund will have a budget of PLN 600 million for co-financing infrastructure projects of local and regional authorities. It is due to be launched in the first quarter of 2015. Unlike in other Polish Investments projects, the fund will be able to acquire shares in companies owned by local authorities. It will be part of BGK’s fund unit BGK TFI and it will be managed by PIR.