Polish assistance schemes get the approval of the European Commission
09.04.2020
The European Commission announced on Wednesday that it approved a Polish loan and guarantee scheme worth 700 million euros (approx. PLN 3.5 billion), designed to support the economy in connection with the coronavirus pandemic. The scheme aims to offer support and benefit about 20 thousand companies.
The government program will support the Polish economy by granting public guarantees and securing loans and interest rate subsidies. In this way, enterprises will be able to cover their immediate liquidity needs and continue their operations in these difficult times.
Earlier, on 3 April, the European Commission approved the EUR 22 billion guarantee scheme of the Polish government, which will help companies currently having problems with access to capital.
The adopted solutions will be able to benefit large and medium-sized Polish enterprises from all sectors of the economy. The purpose of introducing such guarantees is to limit the risks associated with lending to companies that are most affected by the economic effects of the current crisis. The meassure aims to provide companies with sufficient liquidity to enable them to continue operating and to protect jobs.
Both schemes approved by the European Commission are part of the Polish government's anti-crisis shield.