Poland to spend up to EUR 9 billion in second tranche of business aid

2020-11-26 12:31 update: 2020-11-27, 14:45
Fot. PAP/Rafał Guz
Fot. PAP/Rafał Guz
The government will prop up Poland's crisis-hit sectors with up to PLN 40 billion (EUR 9 billion) of state aid under the Shield 2.0 programme, Prime Minister Mateusz Morawiecki announced on Thursday.

The government has earmarked PLN 3 billion (EUR 670 million) for micro companies, PLN 5 billion (EUR 1.12 billion) for small companies and PLN 25-27 billion (EUR 5.59-6.04 billion) for medium-sized and large companies, Morawiecki said.

There are about 40 sectors that have been affected by the restrictions imposed to stem the second wave of the coronavirus pandemic, including hospitality, transport, hotels, tourism, culture and entertainment, the prime minister said.

The new government instruments will include subsidies for micro-companies, lost-business compensation, subsidies to employee wages and exemption from mandatory social insurance contributions, Morawiecki announced.

Companies will be able to apply for support in the coming days, according to the prime minister. (PAP)