AEQUO advised Bank Gospodarstwa Krajowego, a development bank fully owned by the Polish state, in connection with the registration of its representative office in Ukraine

As the only institution of its kind in Poland, BGK marked its 100th anniversary in 2024. With extensive experience in facilitating financing in war-affected and recently de-occupied areas, BGK generates a significant socio-economic impact in the regions where it operates. Since the commencement of the full-scale war, BGK has significantly increased its support for Ukraine through a range of initiatives, including donations, enabling money transfers, implementing EU-funded projects, issuing bonds to accumulate financing for Ukraine, and export-credit insurance for Ukrainian exporters. Notably, BGK has been playing a key role in arranging programs that provide financial lifeline support via local partner banks to Ukrainian businesses operating in the highest-risk areas, particularly in de-occupied regions and near-frontline zones.

The project is unique, as it entailed setting up a rare legal form in Ukraine – a representative office of a foreign bank – under the recently changed legal framework. While the introduction of new legislation often presents challenges in terms of interpretation and implementation, these issues were effectively addressed by the AEQUO team in close cooperation with the regulator and the relevant state authorities to ensure the registration of BGK’s representative office in Ukraine within the shortest possible timeframe.

"We are pleased to have assisted the BGK with scaling up its support for Ukraine and deployment of its mission on the ground to assess Ukraine's financial needs and facilitate further Polish investments into our country",

highlighted Yulia Kyrpa, Executive partner of Aequo.

The project team comprised associates Dmytro Shudrenko and Konstantyn Dovhan and was led by the Executive Partner Yulia Kyrpa.