Oschadbank starts cooperation with the Polish export credit agency KUKE to stimulate Polish business participation in the reconstruction of Ukraine

The main goal of the memorandum signed today between Oschadbank and the Polish export credit agency KUKE is to deepen the participation of Polish business in supporting the Ukrainian economy. The parties are expected to cooperate in the field of short-term financing of Polish exports, primarily intended for the reconstruction and development of the Ukrainian economy, as well as to promote Polish investments in Ukrainian enterprises to provide long-term financing aimed at increasing existing production and construction of new production facilities. Special attention will be paid to supporting major infrastructure projects of the Ukrainian government and municipalities.

"Oschad continues to form an international coalition to support Ukrainian business. The memorandum signed today stipulates that our Polish partners from KUKE will soon join us in guaranteeing investments in the Ukrainian economy. We already have several projects to guarantee financial obligations together with the EBRD, the European Investment Bank, and the Ukrainian Export Credit Agency. The involvement of a powerful Polish player in the field of export guarantees in these programs will increase the volume of such initiatives and help attract foreign investment for much larger projects that the Ukrainian economy needs today. We are very grateful to our Polish friends for their cooperation and willingness to help build Ukraine even during the full-scale aggression," said Sergii Naumov, Chairman of the Management Board of Oschadbank.

“The reconstruction of Ukraine continues here and now, and the country must function as normally as possible. Therefore, we should not wait until hostilities cease and then act. We at KUKE have adopted this strategy from the very beginning, creating various solutions and safeguards for emerging risks, incuding the war risk. While we have always believed that the role of blend finance will be enormous, we see that the creation of funds with multilateral support consumes a lot of time and hardly mobilizes significant capital so far. KUKE was the first and remains one of the few institutions that provide such guarantees to business. So far, over 3,000 Polish companies have declared their willingness to invest in Ukraine and participate in the reconstruction process. We hope that our cooperation with Oschadbank will increase their opportunities to participate in projects related to the reconstruction of infrastructure or other projects aimed at modernizing the economy. Partnership with local entities may strengthen their position to compete effectively with firms from other countries and give them access to a market with extensive needs”, commented Janusz Władyczak, CEO of KUKE.

KUKE is Poland's export credit agency, which provides financial instruments guaranteed by the State Treasury, helping companies to expand abroad and grow their business. The agency's activities cover 200 markets - from Canada to Indonesia and from Mexico to the United Arab Emirates.