EUR 1.3 bln in small business loans

To date, more than 1.1 million low-interest redeemable loans have been made available to micro-enterprises to a value of over PLN 5.8 billion (EUR 1.31 billion), Family, Labour and Social Policy Minister Marlena Maląg has told PAP.

The labour minister pointed out that it has been two months since the launch of the anti-crisis shield, the aim of which was to support businesspeople and protect jobs, and that during this time the total amount of support has reached PLN 22.1 billion (EUR 5 billion).

She went on to state that the shield’s roll-out and effects were under constant monitoring including through meetings and talks with company representatives from various regions.

One of the anti-crisis shield’s instruments is co-financing for wages from the Workers Benefits Guarantee Fund. Ministry data show that so far some PLN 4.5 billion (EUR 1 billion) has been paid out to protect over a million jobs.

The minister said there was high interest for low-interest and redeemable loans of up to PLN 5,000 (EUR 1,133) for micro-enterprises to cover the costs of doing business. So far, more than 1.1 million such loans have been earmarked to a value of PLN 5.8 billion (EUR 1.31 billion).

Maląg highlighted support from the European Social Fund, which according to ministry data, has earmarked over PLN 1.9 billion in co-financing for companies and organisations employing almost 495,000 people.

The ministry reported that around 1.3 million people are receiving downtime benefits to a total value of PLN 2.5 billion (EUR 567 million). In addition, the social security (ZUS) waiver is worth more than a further PLN 7.3 billion (EUR 1.65 billion), the ministry said.