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.
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.
