In brief

• BGK and the Italian development institution CDP have signed a memorandum of cooperation, the first between these two institutions.
• The agreement sets the framework for long-term cooperation on financing development projects and investments.
• Areas of cooperation include venture capital, instruments for SMEs, and the InvestEU programme.

Framework of cooperation

BGK and CDP have signed a memorandum of cooperation, the first document of this kind between the two institutions (BGK wzmacnia współpracę z włoską instytucją rozwoju CDP – BGK) (BGK podpisał memorandum o współpracy z włoską instytucją rozwoju CDP – wnp.pl). According to BGK, the agreement is meant to set long-term frameworks for activities concerning the financing of development projects and the exchange of knowledge. It is also meant to serve joint undertakings that strengthen the development and resilience of the European economy (Italia-Polonia, primo MoU tra Istituzioni di Sviluppo: CDP e BGK rafforzano cooperazione | Teleborsa.it – teleborsa.it).

Areas of activity

The cooperation is to cover financing of sustainable development, equity investments, and the venture capital segment. The institutions also intend to develop new financial and guarantee instruments for small and medium-sized enterprises, as well as to carry out social housing projects and initiatives concerning the security and economic resilience of Europe (Italia-Polonia, intesa Cdp-Bgk sul sostegno alle imprese - Italypost – italypost.it).

BGK and CDP also plan to act within the framework of the InvestEU programme and other EU initiatives. Together they intend to develop investments in partner countries outside the European Union and to exchange experience in applying EU regulations.

Signing in Warsaw

The document was signed in Warsaw. According to BGK, the agreement is meant to organise long-term cooperation on project financing, joint investments, and the exchange of experience. The ceremony was attended by CDP's Chief Executive Officer Dario Scannapieco and BGK's management. Scannapieco indicated that the goal is to mobilise resources and create investment opportunities for enterprises and regions.