English Section

Poland plans state-backed insurance for firms eyeing business in Ukraine

21.09.2023 14:00
The Polish government has announced a state-backed insurance programme for companies starting business in war-torn Ukraine.
Jadwiga Emilewicz
Jadwiga EmilewiczPAP/Jakub Kaczmarczyk

The measure was announced by Jadwiga Emilewicz, Deputy Minister for European Union Funds and Regional Policy, on Thursday, Polish state news agency PAP reported.

It came after a Russian missile on Tuesday hit a window-making factory owned by Poland’s Fakro company in Ukraine’s western city of Lviv, the Interia.pl website reported.

The strike caused a fire that destroyed a production facility and 2,000 windows, Fakro said. 

The damage is estimated at PLN 30 million (EUR 6.5 million), Fakro’s CEO Ryszard Florek told PAP on Wednesday. 

Emilewicz, who is the Polish government’s commissioner for Polish-Ukrainian development cooperation, told the PAP news agency on Thursday: “Unfortunately tragedies take place in a country hit by war and Russian aggression, such as yesterday at the Fakro window-making plant.” 

She said it was another example of Russia’s “total disregard for international law and barbarity.”

Emilewicz noted that the night-time attack on Lviv’s industrial district killed at least one person.

She told the PAP news agency that the strike proved that the reconstruction of Ukraine would require “national and international insurance guarantees” for private contractors in the event of such attacks.

Emilewicz announced: “We have prepared a measure to reduce the risk of doing business in a war zone.”

She added that it was a state-backed insurance programme for Polish companies starting business in Ukraine. 

Emilewicz also said that Poland was “the first country in Europe to offer such a scheme” and declared that further measures would follow for Polish firms in Ukraine. 

She stated: “Above all, we want this war to end, so that Polish businesses and the Polish economy can make a notable contribution to the reconstruction of Ukraine, on terms that are beneficial for us.”

Some 660 Polish companies are currently active in Ukraine, including furniture makers, construction firms and clothing brands, according to Emilewicz

Meanwhile, some 2,000 Polish companies, in sectors such as construction, energy, agri-food, pharmaceuticals and IT, have so far declared an interest in projects to rebuild Ukraine, according to the Polish government.

Russia invaded Ukraine on February 24, 2022, launching the largest military campaign in Europe since World War II.

Thursday is day 575 of Russia’s war on Ukraine. 


Source: PAP, Interia.pl, Fakro