EC okays Polish public aid scheme for firms hit by Ukraine war
The European Commission (EC) has approved a Polish EUR 1.2-billion public aid programme for companies affected by Russia's war against Ukraine.
"The European Commission has approved a EUR 1.2 billion Polish scheme (PLN 5.5 billion) to support companies across sectors in the context of Russia's invasion of Ukraine," the EC said in a press release on Thursday.
The aid was approved under the EU's extraordinary measure, the Temporary Crisis Framework for State Aid.
"This EUR 1.2 billion scheme will enable Poland to mitigate the economic impact of Putin's war in Ukraine and to further support companies across sectors affected by the current crisis and the related sanctions," Margrethe Vestager, a deputy EC president, was quoted as saying in the press release.
The Polish programme offers mainly loan guarantees and is designed for a range of industries, excluding credit and financial institutions.