Polish Development Fund


Polish Development Fund (PFR)
is a State-owned financial group which offers instruments supporting the development of companies, local governments and individuals, and invests in sustainable social development and national economic growth.

The mission of PFR as a Polish promotional financial institution is to implement programmes enhancing the long-term investment and economic potential and supporting equal opportunities and environmental protection. PFR was established in April 2016 as part of the government’s Plan for Responsible Development drafted by Deputy Prime Minister, Minister of Economic Development and Finance Mateusz Morawiecki. Paweł Borys has been the first President of the Management Board of PFR since 1 May 2016.

The PFR Group is a new entity which continues, in a new format, the tradition of Bank Gospodarstwa Krajowego, established in 1924 as a part of the reform programme of Prime Minister Władysław Grabski. Most countries of the world have similar development institutions. The biggest development institutions in Europe which have similar operating standards to those of the PFR Group include the German KfW (Kreditanstalt für Wiederaufbau) group, the French CDC (Caisse des Dépôts et Consignation) group, the Italian CDP (Cassa Depositi e Prestiti) group, and the Hungarian MFB (Magyar Fejlesztési Bank) group.

The head office of the Polish Development Fund is in Warsaw.

The Polish Development Fund Group operates within the new architecture of Polish development institutions. Its coherent strategy and instrument platform integrate the Industrial Development Agency (Agencja Rozwoju Przemysłu, ARP), Bank Gospodarstwa Krajowego (BGK), Export Credit Insurance Corporation (Korporacja Ubezpieczeń Kredytów Eksportowych, KUKE), the Polish Agency of Trade and Investment (Polska Agencja Handlu i Inwestycji), and the Polish Agency for Enterprise Development (Polska Agencja Rozwoju Przedsiębiorczości, PARP).


Eliza Kruczkowska


Eliza Kruczkowska
Chief Innovation Officer at Polish Development Fund

Eliza Kruczkowska, Chief Innovation Officer at Polish Development Fund, a financial group which offers instruments supporting the development of companies. She is in charge of coordinating “Start In Poland” programme aimed at building a vibrant startup and venture capital ecosystem including €500m in investment in VC funds and online one-stop-shop for startups at startup.pfr.pl. She used to be a CEO of Startup Poland, a grassroots organization aimed at helping build better conditions for Polish startups by influencing policy-makers, educators, academics, and the media. She has extensive experience in tech, politics, communication, as well as NGOs. In the past, she has worked abroad in Madrid at Internet Advantage, London at the Evening Standard, and Munich at Lewis PR.