EUR 250 mln in extra EU funds provided for company liquidity loans
Funds and Regional Policy Minister Malgorzata Jarosinska-Jedynak announced on Tuesday the ministry was making PLN 1.1 billion (EUR 250 million) of EU funds available in loans to ensure companies' financial liquidity.
The minister said during a press conference that the funds ministry and the National Economy Bank (BGK) had signed an annex to a contract increasing the pool of funds to support companies that have suffered as a result of the coronavirus pandemic. Within the framework of that instrument, there will now be available PLN 2.15 billion (EUR 489 million).
Jarosinska-Jedynak said the process of selecting institutions to distribute the funds, in cooperation with BGK, would start on Wednesday, while "the money will reach entrepreneurs probably in the second half of September."
"This form of aid enjoys huge interest," the minister said. "The budget of the Loans Fund initially stood at PLN 400 million (EUR 91.1 million) and now we're raising it by PLN 1.1 billion, to finally offer businesspeople PLN 2.15 billion."
She said the pool of funds might be further increased "if it is possible to find savings in the Intelligent Development programme," so there would be enough for all applicants.
A representative of the BGK management board, Przemyslaw Cieszynski, present at the press conference, said the number of applications submitted to date testified to the level of need among businesspeople in Poland. (PAP)
