Polish firms receive over EUR 18 billion under anti-crisis package

The government has so far granted over PLN 81.8 billion (ca. EUR 18.4 bn) in aid to Polish firms within the framework of the financial shield scheme overseen by the Polish Development Fund (PFR), Labour and Social Policy Minister, Marlena Malag has told PAP.

"The fact that the shield works is the result of, on the one hand, well-designed tools that provide real help and protect jobs, and on the other hand the efforts of many people responsible for the implementation of the scheme. Aid quickly goes where it is needed the most," she said.

With wage subsidies exceeding PLN 7.59 bln (EUR 1.7 bln) in total, some 1.85 million jobs have been protected, according to Malag. Micro-companies have received some 1.4 million loans totalling PLN 6.87 billion (EUR 1.54 billion), she added.

Some 1.5 million people on temporary contracts and the self-employed have received downtime benefits to the tune of nearly PLN 2.97 billion (EUR 667,449) while a waiver on paying social insurance (ZUS) contributions translates into PLN 7.5 (EUR 1.69 bln) billion in relief, Malag also said.

The PLN 100-billion (EUR 23-billion) assistance programme is addressed to around 670,000 Polish enterprises that suffered as a result of the coronavirus pandemic.

Under the Financial Shield, micro-companies are to receive a total of PLN 25 billion (EUR 5.51 billion) in government aid and large companies are to get the same amount. Small and medium-sized firms will be offered PLN 50 billion (EUR 11.03 billion) in total.

The support is to help companies maintain liquidity and financial stability and preserve jobs during the period of severe economic disruption caused by the coronavirus pandemic.