Poland to launch financial aid programme for large companies

"Next week, we are launching a financial shield for large enterprises," Paweł Borys, head of the Polish Development Fund told TOK FM radio station on Friday. Maciej Kulczyński/PAP

A PLN 25-billion (EUR 6.43-billion) financial shield, to be launched next week, offers liquidity and preferential loans to large companies hit by government-imposed Covid-19 related restrictions.

"Next week, we are launching a financial shield for large enterprises," Paweł Borys, head of the Polish Development Fund told TOK FM radio station on Friday. "A resolution on this matter is being adopted by the Council of Ministers."

Borys said that the latest support "will enable companies to compensate for losses incurred between November and March."

"Unfortunately, we are waiting... for approval by the European Commission," added Borys.

The Financial Shield 2.0 for large companies provides a EUR 6.43-billion support package. The programme is addressed to companies employing 250 or more people and having a turnover of more than EUR 50 million.

Subsidies under Shield 2.0 will be non-returnable when entrepreneurs meet a number of criteria.