Polish lower house passes fourth business relief package

Dodano: 08-06-2020

The Polish lower house passed the 'Anti-Crisis Shield 4.0', the fourth economic relief package aimed at counteracting the coronavirus crisis, with measures including loan payment suspension and prolonged care allowance.

According to the act people who lost their jobs during the crisis will be able to suspend loan payments for up to three months. The government has earmarked PLN 570 mln (EUR 129 mln) for subsidies to interest on loans, a move that is expected to generate loans worth PLN 30 bln (EUR 6.77 bln).

The new legislation also introduces simplified rules for the restructuring process for distressed businesses and includes measures preventing hostile takeovers of Polish companies by non-EU entities.

Additionally the Anti-Crisis Shield 4.0 raises the debt limits for local governments. The care allowance for parents whose children had to stay at home during the pandemic will be prolonged until June 28.

Now the legislation goes to the Senate.

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