The measure includes an injection of around PLN 570 million (EUR 129 million, USD 146 million) in funds through the state-run Bank Gospodarstwa Krajowego (BGK) to support businesses by providing them with loan interest subsidies.
The new rules are designed to benefit businesses and individuals who have lost their jobs and sources of income due to the coronavirus, according to officials.
The legislation passed by the upper house of Poland’s parliament in a 91-3 vote with three abstentions on Thursday aims to protect companies, jobs, borrowers and local governments from the fallout of the coronavirus crisis, Poland’s PAP news agency reported.
The measure, dubbed “Anti-Crisis Shield 4.0,” was earlier backed by the lower chamber of Poland's bicameral parliament. It now reverts to the lower house for a final vote after the Senate made a number of modifications to the proposal.
The bill is then expected to go to President Andrzej Duda for signing into law.
It is the latest part of the government’s extensive relief and stimulus package, which aims to shore up the economy and shield it from the impact of the coronavirus.
Poland’s president in April signed into law a measure to offer further support to the nation’s economy amid the COVID-19 crisis.
Polish lawmakers at the end of April backed a plan to expand the massive package of measures aiming to protect jobs and businesses.
Poland's parliament in mid-May approved more support to the economy as part of the government's “anti-crisis shield.”
(gs/pk)
Source: PAP