Citi offers fee free online money transfers to Poland

Citibank is to offer fee free money transfers to Poland for the UK's estimated one million Poles.

The joint offer from Citibank and its Polish sister Citi Handlowy allows Poles to transfer money to Poland with only Citibank exchange rates applying to transfers and transactions across currencies.

The Citibank Easy Account offers Poles in the UK instant online transfers to Poland, no monthly fee for account maintenance and a Visa debit card.

Meanwhile Citibank has launched a new account service that allows potential UK customers to open a current account for a relative with Citi Handlowy without the need to visit the bank's branch in Poland.

Ian Kerr, Citi UK consumer business manager, said: "The 'One Citi' strategy is aimed at strengthening co-operation between business lines and between countries.

"The fact that today we can announce the launch of the UK's first 'one bank' service for Poles living and working in the UK is a direct outcome of the implementation of this strategy."

Agnieszka Burban, housing association worker in London, who moved from Poland in 2004, said: "I think its great news for all Poles sending money back to Poland. It must make their lives easier."

Figures from Polish Ministry of Finance reveal in 2006 Polish immigrants sent €4.5 billion to their families in Poland from around the world.
Source:.myfinances.co.uk

Foreign minister confirms Poland's participation in nuclear project

Poland will sign a deal with the three Baltic states on building a new nuclear power plant in Lithuania, Poland's foreign minister said Tuesday.

"We are very interested in this project. Poland hopes that, in cooperation with the Lithuanian government, this deal will be finalized and signed as soon as possible," Anna Fotyga said after meeting Lithuanian counterpart Petras Vaitiekunas.

Fotyga stressed that special agreements must be signed among private companies that plan to participate in the project, which could cost up to $5.3billion. The new plant is expected to be completed in 2015.

Lithuania, Latvia and Estonia signed a memorandum last year to build a new nuclear power plant to replace the aging Ignalina plant, which Lithuania is phasing out under orders from the European Union. Poland expressed its interest in joining the project in December.

Fear of reliance on Russian energy after the planned closure of the Ignalina plant in 2009 has sparked a flurry of activity in the regional energy industry, with Baltic leaders rushing to integrate their energy systems with those of other EU countries.

Also in December, Poland and Lithuania signed an agreement to connect their power grids.

The Ignalina plant, which provides some 80 percent of Lithuania's electricity, is similar in design to he Chernobyl reactor in Ukraine that became the site of he world's worst civilian nuclear accident in 1986.
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