Government support for businesses reaches PLN 50bn

The Polish government has already funneled more than PLN 50bn into the business sector to ease the economic fallout of the coronavirus pandemic. Through various forms of co-financing, the government has helped save an estimated 4.7 million people from unemployment, according to news reports. The Financial Shield program alone, which has allocated more than PLN 40bn to entrepreneurs, has helped save 2 million jobs. The government estimates that up to 670,000 Polish businesses that have suffered as a result of the pandemic may take advantage of the Financial Shield program, which is managed by the Polish Development Fund. Close to PLN 100bn will be allocated to micro-businesses and small and medium-sized enterprises and large companies. The government-funded support scheme will operate until the end of July.