When it comes to economically developing countries, improvements cannot be made without help from powerful and committed government institutions. In Poland, one of those is Bank Gospodarstwa Krajowego (BGK), which supports the country’s social and economic development as well as the public sector.
BGK is the key institution when it comes to realising Strategy for Sustainable Development — or the so-called Morawiecki’s Plan — a program aimed at the improvement of the Polish economy. Not only does it finance and mobilise capital for investments and export, but is also in charge of the redistribution of EU’s funds. What’s more, it supports balanced development of Polish regions, playing the role of the fund manager in 15 voivodeships.
Last year, BGK financed Polish corporations, export and expansion plan for the total sum of 41B PLN. Over 15 300 corporations benefited from BGK’s support, being able to obtain loans and warranties summing up to 18,5B PLN in total. The bank aided over 200 Polish projects implemented in foreign countries. Those included: sales of mining machines and planes to Russia and Germany, and building a hotel, a sports centre and a logistics centre in Great Britain and Belarus respectively.
BGK is also open to innovations. With the help of EU’s funds, it was able to distribute 770M PLN to innovative technology projects lead by Polish companies.
BGK supports corporations and initiatives aimed at the improvement of the quality of life of Poles. In 2017, it backed public transport plan by financing the purchase of city buses in Tomaszów Mazowiecki, Toruń, and Sosnowiec, as well as hybrid buses in Głogów. Along with bike stations, this can lead to a significant improvement of air quality in the cities.
With the growth of the bank’s activity range, the profits also rose — from 257 million PLN in 2016 to 584,4 million in 2017. The balance sheets for 2017 add up to 74 billion PLN, which is an 11% rise comparing to the previous year.
That sounds like a lot of work! If you want to learn more about BGK’s activities — our Partner, come to Impact’18 on 13th & 14th June in Krakow. Grab your pass here and see you soon!
