Opportunities for Financing Imports of Polish Goods and Services on Favourable Terms

Under a Polish government programme to support foreign trade, BANK “ROSSIYA” in cooperation with Poland’s BANK GOSPODARSTWA KRAJOWEGO has been granted the opportunity to provide its clients with short-term and long-term financing at favourable interest rates for imports of goods, work and services of Polish origin.

The main requirement for obtaining the financing is a documentary letter of credit opened by BANK “ROSSIYA” on instructions from a Russian importer. Short-term financing is available for periods of up to 2 years from the date of delivery of the goods, with no minimum contract value. The money is repaid at the end of the period in a single payment. Long-term financing is available for a maximum of 85% of the cost of the goods (services) under contracts with a value of EUR 0.2 million or more, for a period of 2-5 years, and in some cases up to 7 years. Repayment of the long-term funding begins 6 months after completion of delivery with regular payments every 1-6 months.

To access financing under this programme the following conditions must be met:

· The exporter must be registered in the Republic of Poland (although it may be a 100% foreign owned company);

· The minimum share of components of Polish origin by value of the goods or services is 50% for most industries (although a lower percentage is possible in some cases).

More detailed information on how to access financing for specific contracts (draft contracts) is available from the Trade Finance Transactions Division, Tel.: (812) 335-89-49; e-mail financial.institut@abr.ru