EC approves Poland's EUR 7.7-billion aid programme

Olivier Hoslet/PAP/EPA

The European Commission (EC) has approved eleven aid programmes of the Polish government valued at a PLN 35.1 billion (EUR 7.7 billion) intended to support companies affected by the crisis caused by the coronavirus epidemic, the EC announced on Thursday.

The programmes provide support in the following forms: direct grants, repayable down payments, tax benefits and payment relief, deferrals of tax payments and subsidies to employees' remuneration.

The programmes will be available to micro-enterprises (including self-employed people), small and medium-sized enterprises (SMEs) and large companies struggling with austerity and liquidity deficits following the coronavirus pandemic.

It is expected that around 2.5 million enterprises, including 2 million self-employed people, will benefit from the support.