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Poland to set up state fund,boost it with PLN 10 bln in shares

WARSAW, Oct 12 (Reuters) - Poland will create a fund at the state bank BGK and transfer shares of state-owned companies to bolster it with 10 billion zlotys ($3.16 billion), Finance Minister Jacek Rostowski said on Friday.

Treasury minister Mikolaj Budzanowski added that starting from 2014 privatisation revenues will be directed to BGK to suport public investments.

"The greatest innovation will be transfering shares of state-owned companies to BGK and selling them via BGK, which will strenghten the bank with 10 billion zlotys," Rostowski told reporters in Sejm. (3.1604 Polish zlotys)

(Reporting by Pawel Sobczak and Dagmara Leszkowicz; Writing by Marcin Goettig)

((marcin.goettig@thomsonreuters.com)(+48226539720)(Reuters

Messaging: marcin.goettig.reuters.com@thomsonreuters.net))

Keywords: POLAND TUSK/STATE FUND