"The implementation of the investment part of the Ukraine Facility program will begin in the third quarter of 2024, while the funds will be transferred to authorized public institutions in the EU member states. The BGK bank is this kind of institution in Poland," Chairman of the Polish Investment and Trade Agency Board (PAIH) Andrzej Dycha said.
Dycha noted that work is still underway on amendments to legislation to enable the BGK to use funds from the EU Ukraine Facility program to make investment loans cheaper.
"We would like both Polish and Ukrainian enterprises to have access to these funds," Dycha said.
The core Polish institution that facilitates the establishment of contacts and the search for investment projects in Ukraine is the PAIH Kiev office, he said.
"In August 2022, the PAIH Kiev office launched a register of Polish businesses interested in Ukraine's recovery. Currently, over 3,000 Polish companies have already expressed their interest in working in Ukraine," Dycha said.
As reported, the Polish State Export Credit Insurance Corporation (KUKE) was one of the first to begin insuring investment in Ukraine for companies from all over the world in September 2023. KUKE jointly with BGK and PAIH are part of the Polish Development Fund.
The Ukraine Facility is an instrument that envisages the possibility for Ukraine to receive EU financial and technical assistance totaling 50 billion euros in 2024-2027, of which 38.27 billion euros will be allocated for budgetary support, 6.97 billion euros for investment support, and 4.76 billion euros for technical and administrative support
