Polish bank ready to finance Azerbaijani importers

Business Materials 25 November 2010 13:35 (UTC +04:00)

Azerbaijan, Baku, Nov. 25 / Trend N.Ismayilova /

The Polish Gospodarstwa Krajowego (BGK) Bank offers Polish goods to Azerbaijani consumers through credit under a state export support program, an Azerbaijan-Poland intergovernmental economic cooperation commission said in a statement after meeting in Baku this week.

The BGK Bank is also interested in cooperating with large Azerbaijani banks in the services sector and in financing the trade turnover between Azerbaijan and Poland.

The Polish side presented information to Azerbaijan on promoting Polish exports through export credit insurance corporations, as well as opportunities to further develop Polish-Azerbaijani cooperation on deferred payment terms under the state program.

BGK Bank is the only state-owned bank in Poland. BGK was established in 1924, during the monetary reform of Wladyslaw Grabski. In 1944-1948, the bank's activity was suspended and resumed only in 1989 as a specialized business providing banking services in public finance.