World Bank to provide $500m for SME loans in Poland

2009-05-19



The World Bank is in talks with the Polish government about providing a loan of $500m (approx. €370m) to PKO BP, the country’s largest bank, to support lending to small and medium-sized enterprises, World Bank president Robert Zoellick revealed on 18 May during a visit to Warsaw.
Speaking at a news conference after meetings with finance minister Jacek Rostowski and central bank governor Slawomir Skrzypek, Zoellick said that Poland was in a better situation than most countries in dealing with the economic crisis, partly thanks to resilient consumption, although a global recession was bound to have an effect on its economy. The World Bank is forecasting 0.5% GDP growth in Poland in 2009, compared to a contraction of 1.7% predicted for the world economy as a whole.
The State Treasury holds a 51% stake in PKO BP. Reviving lending to businesses is at the heart of the government's plan to support economic growth in the face of the downturn.