Poland's 2nd financial shield to cover 45 sectors - agency head

"After consultations, the number of sectors covered by the PFR Financial Shield for micro, small and medium-sized companies increased to 45," Paweł Borys said on Twitter. Tytus Żmijewski/PAP

The Financial Shield 2.0 passed by the government will provide support for 45 sectors damaged by the coronavirus crisis, the head of the state-owned Polish Development Fund (PFR) said on Tuesday.

"After consultations, the number of sectors covered by the PFR Financial Shield for micro, small and medium-sized companies increased to 45," Paweł Borys said on Twitter.

"Together with the write-off of subsidies from the Financial Shield 1.0, the PFR's support for the most severely affected sectors will reach as much as PLN 20 billion (EUR 4.41 billion)," Borys added.

The government on Tuesday gave the green light to a second version of a Covid-19 financial shield for micro, small and medium-sized businesses and upgraded the first version of the shield, the government press service said earlier in the day.

To date the financial shield has given over PLN 172 billion (EUR 37.8 billion) in aid to micro, small and medium-sized firms affected by the Covid-19 pandemic.

Financial aid under version 2.0 of the shield, amounting to PLN 13 billion (EUR 2.87 billion), will be forwarded from January 15 to March 31.

According to PFR, which oversees the shield programme, up to 70,000 companies may be eligible for aid under the scheme.