Polish Development Fund
 | |
| Joint stock company | |
| Industry | Investments |
| Founded | 2016 in Warsaw, Poland --> |
| Founder | Ministry of State Treasury (Poland) |
| Headquarters |
Warsaw, Warszawa ul. Książęca 4 |
Area served | Poland |
Key people | Paweł Borys |
| Products |
Capital investments
Consultancy and promotion |
| Website | http://www.pfr.pl/ |
Polish Development Fund (PFR) (Polish: Polski Fundusz Rozwoju) is a State-owned financial group which offers instruments supporting the development of companies, local governments and individuals, and invests in sustainable social development and national economic growth.
About
The mission of PFR as a Polish promotional financial institution is to implement programmes enhancing the long-term investment and economic potential and supporting equal opportunities and environmental protection. PFR was established in April 2016 as part of the government’s Plan for Responsible Development drafted by Deputy Prime Minister, Minister of Economic Development and Finance Mateusz Morawiecki. Paweł Borys has been the first President of the Management Board of PFR since 1 May 2016.
The PFR Group is a new entity which continues, in a new format, the tradition of Bank Gospodarstwa Krajowego, established in 1924 as a part of the reform programme of Prime Minister Władysław Grabski. Most countries of the world have similar development institutions. The biggest development institutions in Europe which have similar operating standards to those of the PFR Group include the German KfW (Kreditanstalt für Wiederaufbau) group, the French CDC (Caisse des Dépôts et Consignation) group, the Italian CDP (Cassa Depositi e Prestiti) group, and the Hungarian MFB (Magyar Fejlesztési Bank) group.
The head office of the Polish Development Fund is in Warsaw.
Activity
The Polish Development Fund Group operates within the new architecture of Polish development institutions. Its coherent strategy and instrument platform integrate the Industrial Development Agency (Agencja Rozwoju Przemysłu, ARP), Bank Gospodarstwa Krajowego (BGK), Export Credit Insurance Corporation (Korporacja Ubezpieczeń Kredytów Eksportowych, KUKE), the Polish Agency of Trade and Investment (Polska Agencja Handlu i Inwestycji), and the Polish Agency for Enterprise Development (Polska Agencja Rozwoju Przedsiębiorczości, PARP).
Key areas of activity of the PFR Group
- Banking
- Insurance
- Investments
- Consultancy and promotion
- Enterprise development
- Export
Key clients and products of the PFR Group
- Innovative start-ups
- Seed capital
- Innovation subsidies
- Training and acceleration programmes
- SMEs
- Development capital
- Bank guarantees
- Consultancy and export finance
- Large companies
- Financing of large investment projects
- Consultancy and financing of international expansion
- Co-financing of research and development
- Local governments
- Financing of infrastructure
- Public-Private Partnership
- Loans for education
- Foreign investors
- Large investment projects
- Economic promotion
- Co-operation with regions
- Individuals
- Apartments for rent
- Financing of refurbishment
- Student loans
Strategic goals
- Long-term investments
- Commercial financing of Polish companies
- Investing in entrepreneurship and innovation
- Export finance and support for international expansion of Polish companies
- Promoting the Polish economy abroad
- Supporting the inflow of foreign investments to Poland
- Top quality economic expertise
- Cushioning the market cycle
- Preparing the Polish economy for the challenges of globalisation and the impact of global social and economic trends
Key operating principles
- Filling market gaps: financing on commercial terms, co-operation in the development and distribution of programmes in areas affected by market gaps
- Complementarity: leveraging the market multiplier by mobilising private capital
- Self-financing: internal financing with generated earnings and funds raised on the capital markets (bond issues)
- Transparency: separation of activities guaranteed by the State and proprietary business pursued on market terms to ensure equal competition – market return on proprietary business
- Client-centric: development programmes matching the needs of businesses (enterprises and investors in Poland), consumers (individuals), and the State (local governments and the public sector)
- Professional: organisational standards aligned with the best practice in the market
Key programmes implemented by the PFR Group
- SME De Minimis Guarantees
- Start in Poland
- Capital Building Programme
- Apartment for Rent Programme
- Apartment+
President of the Management Board of the Polish Development Fund
Paweł Borys (born 21 February 1977 in Jelenia Góra) – Polish economist and manager, specialises in banking, the capital market, and economic policy. He has worked with Polish and international financial institutions. President of the Polish Development Fund, Chairman of the Supervisory Board of Bank Gospodarstwa Krajowego.