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 letter 1/2020
- Acceptance of PFR0324 issue
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0324
Issue of PFR0325 of 08 May, 2020
- Issue letter 2/2020
- Acceptance of PFR0325 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0325
Issue of PFR0925 of 22 May, 2020
- Issue letter 3/2020
- Acceptance of PFR0925 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0925
Issues PFR0627 and PFR0330 of 5 June, 2020
- Issue letter 4/2020
- Issue letter 5/2020
- Acceptance of PFR0330 issues
- Acceptance of PFR0627 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0627
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0330
Issues PFR1227 addressed to the Investment Bank, planned for December 10, 2020
- Issue letter 6/2020
- Acceptance of PFR1227 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR1227
Issue of PFR0927 of 14 December, 2020
- Issue letter 7/2020
- Acceptance of PFR0927 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0927
Issue of PFR092027 of 23 December, 2020
- Issue letter 8/2020
- Acceptance of PFR092027 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR092027
Issue of PFR0827 of 15 January, 2021
- Issue letter 1/2021
- Acceptance of PFR0827 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0827
Issue of PFR0228 addressed to the European Investment Bank, planned for February 5, 2021
- Issue letter 2/2021
- Acceptance of PFR0228 issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0228
Issue of PFR0330B of 3 February, 2021
- Issue letter 3/2021
- Acceptance of PFR0330B issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0330B
Issue of PFR0228B addressed to the European Investment Bank, planned for February 12, 2021
- Issue letter 4/2021
- Acceptance of PFR0228B issues
- Statement of guarantee by the State Treasury of the Republic of Poland_PFR0228B
