The BGK-managed Urban Development Fund in Pomorskie (Poland), with a budget of c.a. EUR 60m, is an European Regional Development Fund co-funded financial instrument implemented under the Pomorskie ROP 2007-2013. Financial instruments facilitating sustainable growth and renewal of region’s urban and metropolitan areas were introduced in mid-term review of the ROP implementation, beside the grant system. The instruments support urban projects that are financially viable, have a social element that is important to the local community, and form a part of an urban integrated development plan. The projects are focused on developing business environment institutions, urban regeneration and urban functions, public transport systems as well as their integration, or renewable energy and energy efficiency.
UDF loans have become a universal financial product with diverse support areas and eligible recipients. It has also gained recognition for stability among investors in the region and has become a renowned trademark in the capital market. The UDF has proved a highly successful tool for effective and efficient Structural Funds deployment in the region, providing delivery of policy strategic aims and benefits to all the stakeholders, as well as to society in general.