EC offers EUR 11.2 bln to protect Polish jobs

The European Commission, the EU's executive arm, on Monday proposed EUR 11.2 bln in low-interest loans for Poland to help the country protect jobs endangered by the coronavirus crisis.

In total, 15 EU members are to receive EUR 81.4 bln under the initiative that was presented to the EU Council on Monday.

EC President Ursula von der Leyen said the EU must do everything in its power to protect jobs and livelihoods.

The loans are aimed to help EU member states cope with a sharp increase in public spending that they have had to make in order to protect jobs against the fallout of the crisis caused by the global coronavirus pandemic.