10/11/2018 | Press release | Distributed by Public on 10/11/2018 03:47
The agreement will allow PKO Lesing S.A. to provide SMEs with new leases and loans on favorable terms for a period of two years, until 2020. Approximately 10.000 Polish entrepreneurs, including start-ups, are expected to benefit from the better financing terms. The maximum transaction amount is set at PLN 1.5 million (approximately EUR 350 000).
The current agreement is the largest direct guarantee EIF transaction with a Polish intermediary.'The new COSME agreement is a remarkable success of EIF and PKO Leasing. Polish SMEs will access investment financing on favorable terms that otherwise would not be available. I am convinced that this financing will allow Polish companies to develop their businesses and increase competitiveness. Those are the goals of the COSME programme and of our Strategy for Responsible Development' - commented Jadwiga Emilewicz, Minister of Entrepreneurship and Technology.
The current agreement is supported by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, the Juncker Plan.
Elżbieta Bieńkowska, European Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, commented: I'm excited that thanks to this new agreement and European Investment Fund (EIF) direct guarantees we will be able to support over 10.000 Polish SMEs and provide them with financing worth 1.5 billion PLN. Polish small and medium businesses are competitive and often what they need is just an additional boost to launch new products, expand beyond their local markets and develop their research and innovation capacity. This new EFSI-backed agreement will help them do just that. The Investment Plan for Europe is already expected to provide 43,000 Polish small businesses with better access to this European finance instrument and the new agreement will contribute further to this EU-Polish success story on the ground'.
EIF Chief Executive, Pier Luigi Gilibert, said: 'TheEIFis delivering a range of financing options for Polish SMEs via the Investment Plan for Europe. We are pleased to be announcing this new agreement with PKO Leasing, which will help the company to provide enhanced access to finance to risky SMEs and start-ups'.
Andrzej Krzemiński, President of the Management Boardof PKO Leasing S.A., commented: 'We have a long history of cooperation with the European Investment Fund and it has always brought benefits to Polish entrepreneurs. I may assure that these benefits will be offered also under the current COSME agreement, which has the largest portfolio and will serve substantial amount of SMEs in Poland'.
'We are proud that could support PKO Leasing S.A. in their efforts for preparation and implementation of their guarantee agreement with the EIF. We will support the utilization of the current portfolio, by promoting the offer among potential clients, and we are ready to provide our services for future projects' - statedArkadiusz Lewicki, Director of the National Contact Point for Financial Instruments of the EU Programmes.
The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
About PKO Leasing S.A.
PKO Leasing is the leader in providing leasing services in Poland. Diverse offer includes products and services for every business sector, also offering factoring and insurance support. Company is financing vehicles, plant and machinery, investment projects, boats, real estates but also bikes and IT equipment. www.pkoleasing.pl
COSME is the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (SMEs) running from 2014 to 2020 with a total budget of EUR 2.3 billion. At least 60% of the programme will be devoted to easing access to finance for SMEs in Europe, with two financial instruments. The COSME Loan Guarantee Facility supports guarantees and counter-guarantees to financial institutions to help them provide more loans and lease finance to SMEs. This facility also includes securitisation of SME debt finance portfolios. The COSME programme also invests through the COSME Equity Facility for Growth in equity funds that provide risk capital to SMEs mainly in the expansion and growth stages. The COSME programme builds on the success of the Competitiveness and Innovation Framework Programme (CIP) (2007-2013) which helped to mobilise more than EUR 21 billion of loans and EUR 3 billion of venture capital to almost 400,000 SMEs in Europe.
About the Juncker Plan
The Investment Plan for Europe, the Juncker Plan, focuses on boosting investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing visibility and technical assistance to investment projects. The European Fund for Strategic Investments (EFSI) is the central pillar of the Juncker Plan. It provides a first loss guarantee, allowing the EIB group to invest in more projects. The projects and agreements approved for financing under the EFSI so far are expected to mobilise more than EUR 344 billion in investments and support around 787,000 SMEs across all 28 Member States.
About National Contact Point for Financial Instruments of the European Union Programmes
The NCP facilitates access to preferential financing, generated through EU support, for Polish entrepreneurs and financial institutions. The NCP supports implementation of all EU programmes that involve financial instruments for entrepreneurs. It is also a part of Polish support system for implementation of the Investment Plan for Europe, in cooperation with the EIB Group. http://www.InstrumentyFinansoweUE.gov.pl
Tel.: +352 42 66 88 346
E-mail: [email protected]
PKO Leasing S.A.:
Tel.: 22 577 03 27
E-mail: [email protected]
Sophie Dupin de Saint-Cyr
Tel.: + 32 229 56169
E-mail: [email protected]