Polish development bank to cooperate with SaudiEXIM Bank

Poland’s development bank (Bank Gospodarstwa Krajowego, BGK) and Polish export credit agency (KUKE) have signed a Memorandum of Understanding (MoU) with the Saudi Export-Import Bank (SaudiEXIM Bank). The parties express their intention to develop cooperation aimed at promoting exports and investments in both countries. The document was signed during a mission of Polish companies to Saudi Arabia.

Poland is one of the most attractive and fastest growing investment markets in Europe. This is demonstrated by Poland’s strong macroeconomic fundamentals, the scale of our market, and stable economic growth. According to estimates by various institutions, in 2025 our GDP increased between 3.4% and 4%. According to IMF forecasts, this strong trajectory will be maintained in the medium term. Poland has reached the status of one of the world’s 20 largest economies, with a projected nominal GDP of approximately USD 1.04 trillion. Moreover, Poland’s strength is reflected in the dynamic development of technology, energy, and defense sectors. Saudi Arabia is Poland’s largest trading partner among Arab countries and one of the leading partners in the Middle East and North Africa (MENA) region. In 2024, the value of bilateral trade reached USD 12 billion. Saudi Arabia mainly exports mineral products and plastics to Poland, while Poland exports machinery, tobacco products, and mechanical devices to the Kingdom. Imports from Saudi Arabia are several times higher than Polish exports.

More benefits for business

Today, BGK and KUKE signed an MoU with SaudiEXIM Bank, declaring their intention to strengthen cooperation in promoting exports and investments in both countries.

Polish development bank places great importance on building stable, long term relationships with key financial institutions in the Kingdom of Saudi Arabia. Cooperation with the Saudi EXIM Bank opens new opportunities for BGK to support Polish companies in this market, in line with the bank’s strategy. Our joint efforts can translate into tangible projects and benefits for both sides. Even today, Saudi institutions look to BGK as a model, for example in risk management.Mateusz Szczurek, Member of the Management Board of BGK

The agreement with Saudi EXIM Bank means closer cooperation between our institutions, which will open additional opportunities for Polish companies in that market. We gain a partner who knows the local conditions very well, ensuring safe operations for us. The Saudi market currently offers access to numerous projects, particularly in broadly defined infrastructure. It also introduces various incentives to attract foreign investment and capital. The experience of our clients operating in Saudi Arabia has been very promising. As KUKE, within the Team Poland framework, we actively promote this direction of expansion to Polish entrepreneurs. We have long provided insurance protection for our exporters, and we are currently working on financing several infrastructure projects involving Polish suppliers and contractors.Janusz Władyczak, CEO of KUKE

This memorandum comes as an extension of Saudi EXIM’s efforts to build high-quality partnerships with global export finance and credit insurance institutions, and to establish a cooperation framework that enables exporters and buyers in Saudi Arabia and Poland to access new markets. Through this cooperation, we look forward to enhancing the flow of mutual trade and investment and opening broader horizons for companies to benefit from the opportunities available in both countries.Saudi EXIM Deputy CEO, Dr. Naif bin Abdulrahman Al-Shammari

The trilateral MoU covers:

• supporting contacts between companies from both countries and identifying potential joint projects,
• supporting exports and investments as well as exploring opportunities for joint financing,
• exchanging information and know‑how through training sessions, conferences, workshops, and research activities.

Mission of 70 Polish companies

The signing of the MoU took place on the sidelines of a mission of Polish companies to Saudi Arabia, attended by Minister of Finance and Economy Andrzej Domański. During the two-day visit to Riyadh, BGK experts met with representatives of Saudi development institutions – the Public Investment Fund and the National Development Fund. They also participated in the Saudi‑Polish Investment Forum, which attracted 70 Polish companies from the IT/ICT, energy, agri‑tech, and smart cities sectors.

Saudi Arabia is an important economic partner for Poland in the Middle East and North Africa region, mainly in the agri-food and agri-tech sectors. Due to the large investment projects currently underway in the Kingdom, we consider it one of the most promising destinations for Polish exports, particularly in the construction sector and smart cities solutions. The country is also seeking partners for the development of modern digital technologies, which increases the importance of the IT sector. I am pleased that together with other institutions under the Team Poland initiative, we can support Polish businesses in expanding into this promising market. Mateusz Szczurek, BGK.

The mission was organised by Poland’s development institutions working under Team Poland brand.

About SaudiEXIM Bank
The Saudi Export-Import Bank (SaudiEXIM Bank) has been operating since 2020. Its activities are overseen by the National Development Fund. In 2024, it provided financing worth 33.5 billion SAR (approx. PLN 31.4 billion). The bank cooperates with institutions including the U.S. EXIM Bank, Italy’s SACE, Sweden’s EKN, Greece’s ECG, Denmark’s EIFO, and Switzerland’s SERV.

About BGK
Bank Gospodarstwa Krajowego (BGK) is Poland’s development bank ranked among the top five development banks in Europe. BGK supports the country’s sustainable economic and social growth. With over a century of experience, the bank finances investments in infrastructure, housing, and entrepreneurship. It is involved in strategic national initiatives, including defence and energy transition. BGK cooperates with both the public and private sectors, mobilizing capital to support projects that address key national challenges. The bank operates international offices in Brussels, Kyiv, and Frankfurt am Main. It also plays an important role in implementing EU funds and Poland’s National Recovery Plan.