Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure PL-2021-15/1877 – Updated – measures in Poland
|Poland , applies nationwide
|Temporary, 08 April 2021 – 28 February 2025
Supporting businesses to stay afloat
– Access to finance
|Jan Czarzasty (Warsaw School of Economics)
|15 April 2021 (updated 27 May 2021)
In late March the application of the Polish Mining Group (Polska Grupa Górnicza, PGG) for financial aid under the Financial Shield 2.0 scheme was approved. As a result the company will receive a liquidity loan of PLN 1 billion from the Polish Development Fund (Polski Funusz Rozwoju, PFR). The loan will have to returned by the end of February 2025. In 2020 due to the pandemic, PGG's mines operated in a limited capacity in the spring months. Furthermore, the energy sector also reduced their demand for hard coal. As the company duly proved the financial loss it suffered due the pandemic, PFR positively reviewed the application.
In early April, PGG received the whole amount granted. The loan will have to be paid off by the end of February 2025. The financial means from the liquidity loan will be used to settle trade liabilities (including purchases of goods and materials), salaries and employee benefit costs, public-law liabilities (such as fees and taxes) and other expenses related to financing the company's day-to-day operations, as set out in the loan agreement and approved by the PFR. Considering PGG volume of employment is approximately 40,000, so the total amount of monthly wages is over PLN 300 million.
The loan has just been received by the company. Use of the financial means of the loan and repayment are yet to be seen.
|Does not apply to workers
|Does not apply to citizens
Company / Companies
Social partners' role in designing the measure and form of involvement:
|Direct consultation outside a formal body
Social partners' role in the implementation, monitoring and assessment phase:
Trade unions maintained pressure on the board to take all steps necessary to ensure business continuity for several months. Trade unions argued that without the aid from the PFR the company would likely fail to cover the current wage obligations for the staff. The monthly volume of wages amounts to some PLN 300 million (about €65 million).
|Sector (NACE level 2)
|B - Mining And Quarrying
|B5 Mining of coal and lignite
This case is not occupation-specific.
Eurofound (2021), Liquidity loan for Polish Mining Group, measure PL-2021-15/1877 (measures in Poland), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/PL-2021-15_1877.html
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