Polish Development Fund to spend PLN 60 bln on financing exports

The Polish Development Fund (Polski Fundusz Rozwojowy) will provide up to PLN 60 billion to support and increase the levels of Polish exports, the organization said. "The share of hi-tech products in Polish exports is low. Goods made by Polish companies constitute only a third of exports and a lack of strong Polish brands is visible. We will back the international competitiveness of Polish firms by offering them a complex range of financial and advisory instruments," said Paweł Borys, head of the body. The financial instruments will be worth PLN 60 billion in total and will include PLN 36 billion for financing and PLN 8.2 billion for guarantees and PLN 9.6 billion for insurance and guarantees, among other things.