Bank Gospodarstwa Krajowego
Bank Gospodarstwa Krajowego (BGK) is Poland’s state development bank. BGK’s status is defined by the special Law of 14 March 2003, and the Decree of 11 May 2010 (both as amended) as a banking enterprise specialized in servicing the public finance sector. BGK is also subject to the Banking Law. BGK was established in 1924 during the monetary reforms of Władysław Grabski, the then Prime Minister and Minister of State Treasury. BGK’s core activities focus on three areas : implementation of dedicated government programs, delivering banking services for the banking sector and developing programs in the framework of BGK’s public mandate (i.e. on BGK’s own account). The primary objective of BGK is to support government social and economic programs, as well as local government and regional development projects, especially those implemented with the use of funds from the European Union and international financial institutions. BGK focuses on financing and transactional banking services for local governments, municipal companies and healthcare sector. It supports investment projects and funds, e.g. by arranging financing for infrastructure projects and promoting Public-Private Partnership. BGK also plays an active role in the ongoing process of public finances’ consolidation and EU funds absorption. BGK supports government economic programs mainly in the following areas :
•Infrastructure (local, social, transport, energy, utilities)
•Entrepreneurship and innovation
•Financing projects based on EU funds and financial engineering instruments.
BGK’s own operations mainly consist of the provision of banking services to municipalities and to a group of strategic enterprises. Services provided by BGK include traditional banking products, transactions on the monetary and foreign currency market, municipal bonds issuance and other issue-investment services.
At a glance
CEO : Dariusz Daniluk
Sherpa : Mariusz Grab
Location : Warsaw
Global Assets (2011) : PLN 39,8 bn
Website : www.bgk.com.pl