BGK Launches Operations in Ukraine

The Verkhovna Rada of Ukraine has ratified an international agreement establishing the legal framework for the operations of the Polish state development bank Bank Gospodarstwa Krajowego (BGK) in Ukraine  

On 26 February 2026, Parliament adopted a law ratifying the Agreement between the Government of Ukraine and the Government of the Republic of Poland governing BGK’s provision of financial and technical assistance in Ukraine for recovery and development projects, including those under the Ukraine Facility programme. The law will enter into force after it is signed by the President of Ukraine and officially published. 

This intergovernmental agreement marks an important step in strengthening economic cooperation between Ukraine and Poland. It allows BGK to operate directly in the Ukrainian market and provide loans, grants, guarantees and other financial instruments to the Government of Ukraine, as well as to state-owned and private companies. 

For the Aequo team, this step is of particular significance. In 2024, we advised BGK on the registration of its representative office with the National Bank of Ukraine and continue to support the bank on matters related to the operation of its representative office in Ukraine. 

We sincerely congratulate the BGK team on the successful completion of this important stage in launching its full-scale operations in Ukraine. 

“We welcome our colleagues from BGK to the Ukrainian market. The formal recognition of the status and operational framework of such a development institution sends a positive signal to the market and creates real opportunities to strengthen cross-border investment and drive systemic economic change in Ukraine,” notes Yuliia Kyrpa, Executive Partner at Aequo. 

Supporting such projects is part of Aequo’s strategic vision to facilitate the entry of new institutional investors into the Ukrainian market, particularly development finance institutions that will play a key role in financing Ukraine’s reconstruction and long-term economic growth. 

About BGK 

Bank Gospodarstwa Krajowego is Poland’s state development bank with over 100 years of history. It implements strategic programmes of the Polish government aimed at supporting socio-economic development in Poland and beyond.