Polish state development bank BGK will launch operations in Ukraine following the signing of a cooperation agreement between the two countries’ economic ministries, reported Ukraine Business News.
The deal, signed by Ukraine’s Economy Minister Oleksiy Sobolev and Poland’s Finance and Economy Minister Andrzej Domański, enables Bank Gospodarstwa Krajowego (BGK) to provide financial and technical assistance to Ukraine’s government, public institutions and private companies.
Support may take the form of loans, export credits, grants or guarantees for recovery and development projects, which will be coordinated between the governments in Kyiv and Warsaw.
Under the agreement, BGK will be allowed to open representative offices in Ukraine, employ staff of Ukrainian, Polish or other citizenship, and conduct negotiations, sign contracts and issue guarantees.
Sobolev and Domański also discussed priority areas of cooperation, including Ukraine’s European integration, export duties, support for industrial parks, investment projects and affordable mortgage lending. They agreed on the need to reform public investment management to ensure transparent and effective allocation of resources in line with recovery priorities and population needs.
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