BGK and EIB with a programme for medium-sized cities. Ostrow Wielkopolski was the first to benefit
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Bank Gospodarstwa Krajowego (BGK) expands its offer to include loans to local governments from the European Investment Bank (EIB). These are attractive loans for financing investment programs implemented by cities.
More than 100 investments with a total value of PLN 250 million will be completed by the end of 2023 by Ostrow Wielkopolski, 70,000 inhabitants. The city received very beneficial support of 110 million PLN from the European Investment Bank through Bank Gospodarstwa Krajowego. Thanks to this loan, it will be possible to implement the Ostrow Investment Express, a program of sustainable development of the city.
The transaction with Ostrow Wielkopolski is a pilot of a joint project of BGK and EIB for medium-sized cities. Thanks to this, medium-sized cities will also gain access to EIB funds, cheaper than those currently available on the market.
In Ostrow Wielkopolski, thanks to the support of the European Investment Bank through Bank Gospodarstwa Krajowego, a bold investment program will be able to be implemented in a rational and safe way. This will result in further sustainable development of the city. We are reaching for a new, ambitious financing instrument. I believe that only bold but at the same time prudent decisions give a chance for a civilization leap to medium-sized cities, where comfortable, safe and attractive living conditions can be provided. This determines the energy and potential of the cities, it helps to keep and attract new residents. Our vision of Ostrow’s development is in line with the objectives of the European Union and the European Investment Bank – says President Beata Klimek.
BGK’s mission is to support the social and economic development of the country, of which local governments are an important participant. We help local governments in long-term and sustainable development. The project for Ostrow Wielkopolski is a pilot of a joint programme of BGK and EIB. Thanks to it, medium-sized towns and cities will be able to implement ambitious investment programs so that the inhabitants can live better. Negotiations with the EIB are still ongoing, so we will be able to inform about the details of the project later – says Włodzimierz Kocon, Vice-President of the Management Board of Bank Gospodarstwa Krajowego. – It is the public investments – governmental and local governmental – that will now be extremely important for the economy and will set in motion private investment projects. – adds Kocon.
Since the first loan to Katowice over 20 years ago, the European Investment Bank has supported about thirty Polish cities in their development and revitalization plans. We have allocated over EUR 4 billion to loans for urban projects in Poland in 2015-2019,” said Prof. Teresa Czerwińska, Vice-President of the EIB, who oversees transactions in Poland. -Today our partner is Ostrow Wielkopolski – for the first time we support a city with less than 100 000 inhabitants. We do this in cooperation with Bank Gospodarstwa Krajowego, our long-term partner for many projects in Poland. Our common goal is to enable all cities, large and small, with a credible plan, to have access to favourable financial conditions, needed to create better infrastructure and ecological environment for their inhabitants. We plan to achieve this goal through a new programme developed by the EIB and BGK, which will provide funding to a wide range of medium-sized cities throughout Poland,” adds Czerwińska.
Ostrow Wielkopolski is the first city in Poland to benefit from this solution up to 100 thousand inhabitants. The investments planned in Ostrow Wielkopolski are to improve the quality of life of the residents, protect the climate and strengthen economic development. There will be new kindergartens and houses, new roads, sidewalks and bicycle paths. Electric buses powered by green energy produced in the city will be purchased.
