EUR 23.96 bln earmarked so far for aid under 'anti-crisis shield'

Poland's Ministry of Development announced on Thursday that the value of aid allocated to date, under the government's stimulus package called 'anti-crisis shield' to mitigate the economic fallout of the coronavirus pandemic, stands at PLN 106.96 bn (EUR 23.96 bn).

A ministry press release stated that PLN 20.04 bn (EUR 4.49 bn) of the total was accounted for by the social security (ZUS) contribution waiver, and postponement and downtime benefits, during the March-May period.

A further PLN 18.01 bn (EUR 4.03 bn) was spent in co-financing from the Workers Benefits Guarantee Fund to protect jobs, co-financing workers' pay for micro, small and medium-sized enterprises, and micro-loans for enterprises.

PLN 55.53 bn (EUR 12.44 bn) was the Polish Development Fund (PFR)'s subvention, PLN 13.38 bn (EUR 2.99 bn) went towards the National Development Bank's (BGK) credit insurance and PLN 2 mln (EUR 448,000) was spent in support of the Industrial Development Agency (ARP).

The ministry added that ZUS and labour offices had received 6,338,084 applications to use the solutions offered.

According to the ministry, the data show that the aid solutions provided in the anti-crisis shield "have met with very high interest from entrepreneurs." The ministry also gave its assurance that it was in constant contact with sector representatives, employers organisations and individual companies with a view to consulting and analysing modifications and to announce new propositions. It also said the government was "reacting flexibly" to the "dynamically changing situation."