BGK announced on Friday that the warranty line will allow PGZ to secure contractual obligations, from tenders, through production, to after-sales service. It will also facilitate obtaining the required security when implementing contracts for the supply of military equipment as part of the modernization of the Polish Armed Forces.
Maria Postuła, first vice-president of BGK, emphasized in the announcement that These guarantees are intended to strengthen the production capacity of the Polish defense industry and accelerate the implementation of key modernization programs. She also added that bank guarantees protect the interest of the State Treasury, reduce contract costs and enable contractors to safely start production.
The rest of the article below the video:
In turn, Marcin Idzik, vice-president of PGZ, drew attention to the dynamic development of the Group and the growing number of long-term contracts. In his opinion, to meet these challenges, it is necessary to ensure financial stability and access to capital. He also emphasized that cooperation with BGK, as a trusted and experienced partner in defense financing, enables effective management of funds entrusted by the state.
The agreement between PGZ and BGK, signed during the International Defense Industry Exhibition in Kielce in September, defines the framework for strategic cooperation. It is intended to provide financial support for PGZ in areas such as liquidity management, financing of export projects, handling financial flows, financing investments and arms contracts.. Both sides also declared cooperation in the management of funds from the Capital Investment Fund and guarantees in foreign trade.
Read also: Poland and Germany join forces in defense. The European Support Vehicle Center will be established
The Polish Armaments Group, a key entity in the Polish defense industry, brings together several dozen industrial plants, research centers and service facilities. In turn, BGK, as a development bank owned by the State Treasury, supports the country's sustainable development by initiating cooperation between the public sector, business and financial institutions.
At the end of 2024, BGK's assets amounted to almost PLN 270 billion and its equity amounted to PLN 41 billion.
