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KUKE relaxes its policy towards Ukraine

01-08-2016

The unchanging interest of Polish companies in exporting to Ukraine and positive payment experiences are the basic reasons behind the change in the risk assessment policy regarding this country.

“Despite the unstable political and economic situation in Ukraine, our domestic firms are entitled to look with interest in this direction. They are also entitled to expect KUKE to follow this interest. And this is exactly the case" – said Marek Czerski, President of KUKE, immediately after the approval by the Export Insurance Policy Committee of a motion filed by the Polish export credit agency requesting the adoption of more liberal criteria of risk assessment applied to transactions with Ukrainian counterparties.

Positive conclusions drawn from the analyses of payment morality of Ukrainian trade partners, a drop in the number of notified cases of debt recovery proceedings or indemnity payment applications have enabled KUKE to convince the supervisory body to adopt this decision. It means that from now on Polish enterprises will be able to insure their transactions with Ukrainian counterparties much easier because the assessment standards will be similar to those applied to companies from other Eastern European countries.

KUKE has been insuring transactions for many years, in particular those with partners operating in the Eastern markets. Since its establishment it has insured receivables from all over the world totalling nearly PLN 300 billion, including PLN 9 billion from Ukraine.