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Company type | Joint stock company |
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Industry | Investments |
Founded | April 1, 2016 |
Founder | Ministry of State Treasury (Poland) |
Headquarters | ul. Krucza 50, , |
Area served | Poland |
Key people | Paweł Borys |
Products |
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Website | pfr.pl |
The Polish Development Fund (PFR) (Polish : Polski Fundusz Rozwoju) is a state-owned financial group, headquartered in Warsaw, which offers instruments supporting the development of companies, local governments and individuals, and invests in sustainable social development and national economic growth. [1]
The mission of the PFR as a Polish promotional financial institution is to implement programs 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 program 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 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), Polish Investment and Trade Agency (Polska Agencja Inwestycji i Handlu), and the Polish Agency for Enterprise Development (Polska Agencja Rozwoju Przedsiębiorczości, PARP). [2]
The economy of Poland is an emerging and developing, high-income, industrialized, mixed economy that serves as the sixth-largest in the European Union by nominal GDP and fifth-largest by GDP (PPP). Poland boasts the extensive public services characteristic of most developed economies and is one of few countries in Europe to provide no tuition fees for undergraduate and postgraduate education and with universal public healthcare that is free at a point of use. Since 1988, Poland has pursued a policy of economic liberalisation but retained an advanced public welfare system. It ranks 20th worldwide in terms of GDP (PPP), 21st in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index. Among OECD nations, Poland has a highly efficient and strong social security system; social expenditure stood at roughly 22.7% of GDP.
Marek Marian Belka is a Polish professor of economics and politician who has served as Prime Minister of Poland and Finance Minister of Poland in two governments. He is a former director of the International Monetary Fund's (IMF) European Department and former Head of Narodowy Bank Polski. He has served as a Member of the European Parliament (MEP) since July 2019.
The Polish Press Agency is Poland's national news agency, producing and distributing political, economic, social, and cultural news as well as events information. It was founded in 1918 as Polish Telegraphic Agency (PAT).
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna or PKO Bank Polski S.A., in short PKO BP or simply PKO, is a multinational banking and financial services company headquartered in Warsaw, Poland. It is one of the largest financial institutions in Poland and in Central and Eastern Europe.
Powszechny Zakład Ubezpieczeń Spółka Akcyjna, also known as PZU SA is a publicly traded insurance company, a component of the WIG30 stock market index and Poland's biggest and oldest insurance company. PZU is headquartered in Warsaw and is the largest financial institution in Poland. It is also the largest insurance company in Central and Eastern Europe.
Bank Polska Kasa Opieki Spółka Akcyjna, commonly using the shorter name Bank Pekao S.A., is a universal bank and currently the second largest bank in Poland with its headquarters in Warsaw. The Italian bank UniCredit used to own 59% of the company. It sold the bank in December 2016. Now Powszechny Zakład Ubezpieczeń owns 20% of the company, Polish Development Fund 12.80%, UniCredit 6.28% and others 60.94%.
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Sławomir Mieczysław Lachowski - Polish economist and banking manager; author of many publications in the field of leadership and management.
The European Long-Term Investors Association (ELTI) is a trade association that represent a European-wide network of development banks or National Promotional Banks and Institutions (NPBIs).
The National Development Bank is a Polish national development bank with headquarters in Warsaw, is a state-owned bank in Poland, operating under a dedicated bill of law. Its main tasks are: support and servicing of export transactions, issuing governmental guarantees, and support of housing.
Michał Jan Chyczewski is a Polish manager, financier and government official.
Halina Weronika Wasilewska-Trenkner was a Polish economist, academic, and finance minister.
Ministry of Marine Economy and Inland Navigation was formed in 2015, from transformation of Ministry of Infrastructure and Development. It was dissolved in 2020.
Wojciech Kostrzewa is a Polish manager and an entrepreneur, chairman of Billon Group, deputy chairman of Ergo Hestia, member of the board of directors at Stadler Rail and president of the Polish Business Roundtable.
Venture capital in Poland is a segment of the private equity market that finances early-stage high-risk companies based in Poland, with the potential for fast growth. As of March 2019, there is a total of 130 active VC firms in Poland, including local offices of international VC firms, and VC firms with mainly Polish management teams. Between 2009–2019, these entities have invested locally in over 750 companies, which gives an average of around 9 companies per portfolio. The Polish venture market accounts for 3% of the entire European ecosystem of VC investments, mainly in the digital space.
Teresa Czerwińska is a Polish economist originally from Latvia. Since 2020, she has served as a vice president of the European Investment Bank.
The Bank Krajowy, full name Bank Krajowy dla Królestwa Galicji i Lodomerii wraz z Wielkim Księstwem Krakowskim, was a government-owned financial institution, established in 1881 by the Diet of Galicia and Lodomeria in Lemberg, now Lviv. In 1920, its seat was relocated to Warsaw and its name changed to Polski Bank Krajowy. In 1924, it was merged into the newly created Bank Gospodarstwa Krajowego.
Paweł Borys is a Polish economist, specializing in finance, banking, and economic policy.