← Polish Development Fund Group (PFR Group)

In connection with the assignment of the PFR under the agreement for the implementation of government programmes “Financial shield of the Polish Development Fund for small and medium-sized enterprises”, adopted by the Resolution No. 50/2020 of the Council of Ministers of 27 April 2020, and “Financial shield of the Polish Development Fund for large companies”, adopted by the Resolution No. 51/2020 of the Council of Ministers of 27 April 2020, PFR is implementing a bond issue programme with a total value of up to PLN 100 billion.

The funds from the issuance will be used to finance the PFR Financial Shield Programme, which offers support to companies affected by the COVID-19 pandemic. Under the PFR Financial Shield, a total of PLN 25 billion is to go to micro-businesses, PLN 50 billion to small and medium-sized enterprises and PLN 25 billion to large enterprises.

The support received will help companies maintain the liquidity and financial stability and preserve jobs during a period of serious economic disruption caused by the coronavirus pandemic. Entrusting the PFR with a leading role in counteracting the negative effects of COVID-19 in the area of the Polish economy was linked to the introduction of legislative solutions enabling the PFR to be fully involved in anti-crisis activities.

The PFR bond issue programme is based on Article 21 aa (1) of the Act of 4 July 2019 on the system of development institutions in connection with Articles 39p – 39w of the Act of 27 October 1994 on Toll Motorways and the National Road Fund.

The bonds are issued in series, with all bonds issued by PFR under the Act being guaranteed by the State Treasury. We encourage you to get acquainted with the terms and conditions of each issue, included in the issuance lists published by PFR:

Issue of PFR0324 of 27 April 2020

Issue of PFR0325 of 08 May 2020

Issue of PFR0925 of 22 May 2020

Issues PFR0627 and PFR0330 of 5 June 2020


Warunki RODO

Warunki RODO