Export credits

    Export credits

    Administrating institution: National Economy Bank (Bank Gospodarstwa Krajowego, BGK)

    On 28 July 2009 the Council of Ministers adopted the governmental programme called 'Supporting of Polish export by granting by BGK credits to foreign purchasers of Polish goods and services or their banks with insurance of the Export Credit Insurance Corporation Joint Stock Company (Korporacja Ubezpieczeń Kredytów Eksportowych Spółka Akcyjna, KUKE S.A.)'. The Council of Ministers adopted amendments to the programme on 12 December 2012 (it changed among other things the title of the programme to 'Financial  Export Support').

    On the basis of the programme, BGK grants credits to foreign importers (directly or through the importer's bank) to finance purchases of Polish goods and services. The credit funds are disbursed directly to the Polish exporters. The foreign buyers repay the credits after the completion of the deliveries or services.

    Financing granted to the foreign borrowers is insured by KUKE S.A.

    The programme includes the following instruments for Polish export financing:

    Medium- and long-term financing (repayment period of two years and more):
    - buyer's credit insured by KUKE S.A. granted within limits set for individual borrowers,
    - buyer's credit insured by KUKE S.A. granted on the basis of  an individual assessment of the borrower,

    - co-financing by BGK buyer's credit insured by KUKE S.A. within banks' consortium,
    - refinancing of  medium- and long-term supplier's credit insured by KUKE S.A.

    Short-term financing:
    - post-financing documentary letters of credit,
    - discounting receivables from documentary letters of credit,
    - confirming documentary letters of credit with guarantee issued by KUKE S.A.,
    - refinancing of short-term supplier's credit insured by KUKE S.A.

    The products offered in short-term financing are applicable to the documentary letters of credit opened by the banks registered in the countries of non-marketable risk.

    The programme enables BGK to give credit guaranteed by KUKE S.A. for pre-financing of exports.  

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