Saturday, March 5, 2016

Polish Development Fund born in pain – Puls Biznesu

A billion investment – most bearing the password so. Morawiecki plan. The Deputy Prime Minister announced a big investment plan financed by EU money, loans from international financial institutions, investment potential owned companies, nearly 240 million zł lying on the deposits of enterprises and 80-90 billion zł excess liquidity in the banking sector. A key tool for the implementation of this plan is to be Polish Development Fund (PFR). The entity referred to during the presentation of the Deputy Prime Minister “Polish development bank” has focused tasks related to supporting small and medium enterprises, with investment – including infrastructure, exports, innovation and promotion of Polish investors. So all the things that today are responsible for: BGK, Export Credit Insurance Corporation (KUKE), Industrial Development Agency (ARP), Polish Agency for Enterprise Development (PARP), Polish Information and Foreign Investment Agency (PAIIZ) and the company Polish Investment and Development (PIR ). According to our information, the work on establishment of PFR are advanced.

– The final organizational structure and functioning of the Polish Development Fund – as agreed by the Council of Ministers – are worked out together with all ministries supervising the unit, which will become eventually a part of it . We want a very good integration of these entities. It is a condition of the ambitious tasks that lie before them – says Marta Lau, a spokesman for the Ministry of Development. According to our findings, praised by experts concept of merging competencies distributed today at various institutions encountered reefs that make its shape will be different from the originally advertised. PFR have acted for a banking license and be another state bank development, which will carry the key for power projects, and also thanks to the creditworthiness of Polish easily borrow capital on global markets.

And just the idea of ​​concentrating all institutions one address raises the most reservations. To be able to develop a new state-owned bank, consent is required not only to the Financial Supervision Commission, but also the European Commission. The experience of many EU countries, eg. The United Kingdom and Portugal, provide that such procedures may take up to three years. The more appropriate question is whether such a bank is required, since it is already an institution which successfully fulfills its role. – In Poland, we have a development bank – Bank Gospodarstwa Krajowego. In my opinion, the next appointment is not necessary. BGK today performs most of the tasks facing the PFR and is the competent institution for the implementation of the plan announced by Prime Minister Mateusz Morawiecki – says Dariusz Kacprzyk, president of BGK (yesterday afternoon was canceled).

full article in Puls Biznesu or online Puls Biznesu Premium.

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