Financial shield implemented by the Polski Fundusz Rozwoju S.A. (PFR) - what do we know so far?
Support mechanisms adopted so far by the Polish government, consisting of the so-called anti-crisis shield, turn out to be insufficient from the perspective of the needs of the entrepreneurs who are suffering the negative economic consequences of the COVID-19 epidemic. The government therefore decided to introduce an additional support programme - the PFR financial shield for companies and employees. The aim of the programme, implemented through the Polski Fundusz Rozwoju S.A. (PFR), is, in particular, to protect the labour market and ensure financial liquidity for entrepreneurs in the period of serious economic disruption. The assumed cost of the programme implementation is PLN 100 billion.
The first information about the financial shield, including the conditions for obtaining funding, was published in the first days of April this year. The program was notified to the European Commission for evaluation in terms of compliance with EU law, which was prerequisite for its implementation. The approval came on 27th April 2020 and already two days later banks have made application systems available to micro, small and medium-sized entrepreneurs.
HERE we present a brief overview of the programme, known as of the date of its drafting. We will update the description on a regular basis.
SDZLEGAL Schindhelm team