- Polish exports amounted to nearly EUR 184 billion at the end of 2016 and almost tripled since Poland’s accession to the European Union.
- Polish companies compete with foreign peers through prices, quality and innovation, and they successfully win international markets.
- PKO Bank Polski and the Export Credit Insurance Corporation (PFR Group) support Polish companies with instruments protecting them against the risks of exports and foreign expansion.
- Polisa na Świat, a product developed by PKO Bank Polski and KUKE, available to companies
since 1 June, is a part of the implementation of PFR Group’s Export Development Programme worth PLN 60 billion under the Strategy for Responsible Development.
Polish companies compete with foreign peers through prices, quality and innovation, and they successfully win international markets: Polish exports amounted to nearly EUR 184 billion at the end of 2016 and almost tripled since Poland’s accession to the European Union. Seeking new markets for Polish exporters and assisting their foreign expansion are a part of the Strategy for Responsible Development. The Polish Development Find co-ordinates the implementation of a comprehensive programme in support of Polish exports. Polisa na Świat – a new product developed jointly by PKO Bank Polski and KUKE (Export Credit Insurance Corporation) – has just been launched and is available in the Bank’s branches across Poland.
“SMEs are very important to the growth of the Polish economy and the implementation of the Strategy for Responsible Development. They represent ca. 50% of GDP and employ 70% of the workforce in the private sector. Export is a natural tool of development for SMEs but its huge potential remains unlocked. According to research, smaller companies are keen to export and they take much higher risks than big companies. A single unpaid invoice could shake the liquidity of a small company and cross-border debt enforcement is much more difficult. This is why we address these risks by providing instruments to overcome such barriers. KUKE’s new product launched in partnership with PKO Bank Polski helps Polish micro-firms to export and compete in international markets,” said Paweł Borys, President of the Polish Development Fund.
“Polish companies increasingly engage in foreign expansion including to remote and more demanding destinations. PKO Bank Polski wants to support them wherever they go. This is why we have opened foreign corporate branches in Germany and the Czech Republic and develop our correspondent banking. These initiatives are coupled by our partnership with KUKE in the development of modern solutions which support exporters,” said Zbigniew Jagiełło, President of PKO Bank Polski.
“Polisa na Świat is a major breakthrough in the availability of our offer. In partnership with PKO Bank Polski, we can reach out to small and medium-sized companies on a large scale for the first time in the history of KUKE. This standardised and simplified product protects companies against financial losses and ensures free-of-charge collection of insured debt. With our solution, even the smallest companies can become more competitive, focus on safe development of their business at home and abroad, and mitigate the risks of default of the contractor who has bought their goods or services under trade credit. Polisa na Świat is the first product developed jointly with PKO Bank Polski but we are planning to continue the partnership. There is much room for further projects,” said Janusz Władyczak, Vice-President of KUKE.
Polisa na Świat: a joint product of PKO Bank Polski and KUKE
2016 has to date been a record-breaking year in foreign expansion. The main markets for Polish exports remain unchanged and include Germany, Italy, France, UK, and the Czech Republic. Exports of SMEs have over the past years been growing faster than total exports, driving their overall growth. Smaller companies are increasingly bold: they enter global markets and manage to stay there despite strong competition. The main barrier to foreign expansion is the risk of financial losses.
Polisa na Świat, a product developed by KUKE and available in PKO Bank Polski branches since 1 June 2017, addresses that risk. The insurance covers the default of contractors who have bought goods or services under trade credit, both in domestic and international transactions, which supports liquidity and protects companies against loss of profit. The policy provides an insurance cover to SME clients of PKO Bank Polski which have been in business for at least 18 months and issue invoices with a 60-day term of payment. The insurance is tailored to the needs of companies of all sizes, including the smallest firms, and debt collection is offered free of charge.
This is not the only product offered by the Bank to exporters that protects foreign transactions of corporate clients. PKO Bank Polski also offers import documentary letters of credit as well as confirmations of export letters of credit where PKO Bank Polski makes a commitment to pay the exporter. Exporters may also use discounting of import letters of credit, guarantees of timely payment, as well as contract bonds.
KUKE (Export Credit Insurance Corporation) has insured trade transactions of Polish companies since 1991 and offers services supporting safe trade at home and abroad. It is Poland’s only provider of export insurance and insurance guarantees underwritten by the State Treasury.
KUKE solutions protect long-term investment projects of Polish exporters around the world.
The Polish Development Fund (PFR) in its Polish Company International Expansion Programme offers modern, comprehensive financial instruments and advisory to companies. The objective is to support the development and grow the scale of Polish exports and investments in foreign markets. PFR Group’s integrated offer of export financing packages amounts to PLN 60 billion (PLN 36 billion of financing, PLN 8.2 billion of guarantees, PLN 9.6 billion of insurance and factoring, PLN 3.5 billion of settlement limits, PLN 1.5 billion of foreign expansion fund resources). The products are distributed by KUKE, BGK, and other commercial banks. PKO Bank Polski is PFR Group’s strategic partner in the distribution of financial and advisory products to companies.
- Polish companies compete with foreign peers through prices, quality and innovation, and they successfully win international markets.
- PKO Bank Polski and the Export Credit Insurance Corporation (PFR Group) support Polish companies with instruments protecting them against the risks of exports and foreign expansion.
- Polisa na Świat, a product developed by PKO Bank Polski and KUKE, available to companies
since 1 June, is a part of the implementation of PFR Group’s Export Development Programme worth PLN 60 billion under the Strategy for Responsible Development.
Polish companies compete with foreign peers through prices, quality and innovation, and they successfully win international markets: Polish exports amounted to nearly EUR 184 billion at the end of 2016 and almost tripled since Poland’s accession to the European Union. Seeking new markets for Polish exporters and assisting their foreign expansion are a part of the Strategy for Responsible Development. The Polish Development Find co-ordinates the implementation of a comprehensive programme in support of Polish exports. Polisa na Świat – a new product developed jointly by PKO Bank Polski and KUKE (Export Credit Insurance Corporation) – has just been launched and is available in the Bank’s branches across Poland.
“SMEs are very important to the growth of the Polish economy and the implementation of the Strategy for Responsible Development. They represent ca. 50% of GDP and employ 70% of the workforce in the private sector. Export is a natural tool of development for SMEs but its huge potential remains unlocked. According to research, smaller companies are keen to export and they take much higher risks than big companies. A single unpaid invoice could shake the liquidity of a small company and cross-border debt enforcement is much more difficult. This is why we address these risks by providing instruments to overcome such barriers. KUKE’s new product launched in partnership with PKO Bank Polski helps Polish micro-firms to export and compete in international markets,” said Paweł Borys, President of the Polish Development Fund.
“Polish companies increasingly engage in foreign expansion including to remote and more demanding destinations. PKO Bank Polski wants to support them wherever they go. This is why we have opened foreign corporate branches in Germany and the Czech Republic and develop our correspondent banking. These initiatives are coupled by our partnership with KUKE in the development of modern solutions which support exporters,” said Zbigniew Jagiełło, President of PKO Bank Polski.
“Polisa na Świat is a major breakthrough in the availability of our offer. In partnership with PKO Bank Polski, we can reach out to small and medium-sized companies on a large scale for the first time in the history of KUKE. This standardised and simplified product protects companies against financial losses and ensures free-of-charge collection of insured debt. With our solution, even the smallest companies can become more competitive, focus on safe development of their business at home and abroad, and mitigate the risks of default of the contractor who has bought their goods or services under trade credit. Polisa na Świat is the first product developed jointly with PKO Bank Polski but we are planning to continue the partnership. There is much room for further projects,” said Janusz Władyczak, Vice-President of KUKE.
Polisa na Świat: a joint product of PKO Bank Polski and KUKE
2016 has to date been a record-breaking year in foreign expansion. The main markets for Polish exports remain unchanged and include Germany, Italy, France, UK, and the Czech Republic. Exports of SMEs have over the past years been growing faster than total exports, driving their overall growth. Smaller companies are increasingly bold: they enter global markets and manage to stay there despite strong competition. The main barrier to foreign expansion is the risk of financial losses.
Polisa na Świat, a product developed by KUKE and available in PKO Bank Polski branches since 1 June 2017, addresses that risk. The insurance covers the default of contractors who have bought goods or services under trade credit, both in domestic and international transactions, which supports liquidity and protects companies against loss of profit. The policy provides an insurance cover to SME clients of PKO Bank Polski which have been in business for at least 18 months and issue invoices with a 60-day term of payment. The insurance is tailored to the needs of companies of all sizes, including the smallest firms, and debt collection is offered free of charge.
This is not the only product offered by the Bank to exporters that protects foreign transactions of corporate clients. PKO Bank Polski also offers import documentary letters of credit as well as confirmations of export letters of credit where PKO Bank Polski makes a commitment to pay the exporter. Exporters may also use discounting of import letters of credit, guarantees of timely payment, as well as contract bonds.
KUKE (Export Credit Insurance Corporation) has insured trade transactions of Polish companies since 1991 and offers services supporting safe trade at home and abroad. It is Poland’s only provider of export insurance and insurance guarantees underwritten by the State Treasury.
KUKE solutions protect long-term investment projects of Polish exporters around the world.
The Polish Development Fund (PFR) in its Polish Company International Expansion Programme offers modern, comprehensive financial instruments and advisory to companies. The objective is to support the development and grow the scale of Polish exports and investments in foreign markets. PFR Group’s integrated offer of export financing packages amounts to PLN 60 billion (PLN 36 billion of financing, PLN 8.2 billion of guarantees, PLN 9.6 billion of insurance and factoring, PLN 3.5 billion of settlement limits, PLN 1.5 billion of foreign expansion fund resources). The products are distributed by KUKE, BGK, and other commercial banks. PKO Bank Polski is PFR Group’s strategic partner in the distribution of financial and advisory products to companies.
