COVID-19 stimulus package: EUR 1.3 bln provided in small business loans

To date, more than 1.1 million low-interest redeemable loans have been made available to micro-enterprises to a value of over PLN 5.8 bn (EUR 1.31 bn), Family, Labour and Social Policy Minister Marlena Malag told the Polish Press Agency PAP.

According to the Minister, two months since the launch of the anti-crisis shield, the aim of which was to support entrepreneurs and protect jobs, the total amount of support granted has reached PLN 22.1 bn (EUR 5 bn).

She went on to state that the shield's roll-out and effects were being constantly monitored including through meetings and talks with company representatives from various regions.

One of the anti-crisis shield's instruments is co-financing for wages from the Workers’ Benefits Guarantee Fund. The Ministry’s data shows that so far some PLN 4.5 bn (EUR 1 bn) has been paid out to protect over a million jobs.

The minister also stressed the support coming from the European Social Fund, which has earmarked over PLN 1.9 bn (EUR 433.2 mln) in co-financing for companies and organisations employing almost 495,000 people.

Data gathered by the ministry reported that around 1.3 million people are receiving downtime benefits to a total value of PLN 2.5 bn (EUR 567 mln). Furthermore, the social security (ZUS) waiver is worth more than PLN 7.3 bn (EUR 1.65 bn).