The European Commission authorised on Thursday 30 June a €1.2 billion Polish scheme to support businesses in various sectors in the context of Russia’s invasion of Ukraine.
The scheme was approved under the State Aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022.
Under this measure, the aid will take the form of: - €981 million in guarantees on new loans; - €218 million in guarantees for factoring products.
The measure will be open to companies in all sectors, except for credit and financial institutions. Eligible beneficiaries will be entitled to receive new loans and engage in factoring products that will be covered by a State guarantee not exceeding 80% of the loan amount or factoring limit. Losses will be borne proportionally by the credit institutions and the State.
The Commission found the Polish scheme to be in line with the conditions set out in the Temporary Crisis Framework. In particular, the maturity of the guarantees will not exceed 6 years, the guarantee premiums respect the minimum levels set in the Temporary Crisis Framework and the guarantees will be granted no later than 31 December 2022. (Original version in French by Lionel Changeur)