EU offers Poland extra EUR 310 mln to help fight coronavirus crisis

The European Commission (EC) has approved a modification of a broader EU operational programme and offered Poland an additional EUR 310.5 million to fight the social and economic impact of the coronavirus crisis.

The move is part of the REACT-EU initiative set up in reaction to the Covid-19 crisis.

"I am glad to approve Poland's first OP (Operational Programme - PAP) amendment under REACT-EU," Elisa Ferreira, the European commissioner for cohesion and reforms, was quoted as saying in a European Commission's press release on Wednesday.

"Cohesion policy is providing support to European citizens when they need it most, allowing them to recover their lives stronger than before," Ferreira continued.

The bulk of the money, EUR 273.6 million, will be offered as loans to small and medium-sized companies, while EUR 25 million "will be dedicated to vouchers for new solutions in the area of digitalisation in companies with the aim to help accelerate the digital transformation of the economy," the EC said.

EUR 11.9 million will be spent on assistance to entrepreneurs.

REACT-EU is part of the bloc's EUR 750 billion post-pandemic recovery fund, approved in July 2020. REACT-EU focuses on the labour market, small and medium-sized companies, support for low-income families as well as promoting green and digital transformation and spurring social and economic growth.