Ministry plans EUR 670 mln in aid to epidemic-hit companies

Poland's Ministry of Funds and Regional Policy plans aid to the tune of PLN 3.03 billion (EUR 670 million) for companies struggling as a result of the coronavirus epidemic, according to a draft ordinance.

The ministry has prepared a draft regulation in the matter of grants or returnable aid within the framework of the 2014-2020 Operational Programmes with the aim of supporting the Polish economy in connection with the COVID-19 pandemic.

"We plan to earmark PLN 3.03 billion in support, of which we plan to earmark PLN 2.58 billion (EUR 570 million) to support in the form of grants covering about 2,300 entities, and support in the form of returnable aid of about PLN 450 million (EUR 99.1 million), covering about 500 entities," the ordinance's Regulatory Impact Assessment reads.

The assessment adds: "The regulation foresees granting public aid both to SMEs (small and medium-sized enterprises - PAP) and to large enterprises for revolving purposes, such as for investments, on condition that the aim of the aid is mitigating the effects of the COVID-19 epidemic."