Factsheet for measure
PL-2021-1/1636
–
Updated
– measures in Poland
Financial Shield 2.0: Large enterprises
Tarcza Finansowa 2.0: duże przedsiębiorstwa
Background information
After the Financial Shield 1.0 was implemented from April 2020 onwards see case
PL-2020-20/806
a follow-up programme has been devised.
Just like the original regulation, the follow-up is based on the Act amending the Act on the System of Development Institutions facilitating public support programme commonly referred to as the Financial Shield, operated by the Polish Development Fund (Polski Fundusz Rozwoju).
The programme is divided into specific sub-sets of measures targeting:
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Micro, small and medium firms.
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Large firms.
The former is further divided into two segments:
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micro firms
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small and medium firms.
Content of measure
The programme still targets large firms (over 249 employees) with annual turnover of more than €50 million. The main development that the follow-up scheme brings will be a new version of the preferential loan, with a new COVID-19 damage period lasting until 31 March 2021. The total amount of aid under the scheme foreseen is PLN 25 billion (some €5.5 billion).
Financial Shield 2.0 will differ from the original in such key aspects as:
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significantly easier process for low aid amounts;
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retained returnable nature of funds with the element of remission of the aid loan, which is related to the full credit analysis process;
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greater flexibility in terms of financing period, extended from 4 to 6 years and cost reduction.
Applications can be submitted from 1 January 2021 until the end of March (provided the approval of the European Commission is granted), so it cannot be established yet what will the impact be.
Updates
The following updates to this measure have been made after it came into effect.
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21 May 2021
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The application window remained opened until the end of March 2021.
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Use of measure
Not known yet. The scheme needs to be approved by the European Commission first. The application process commences on 1 January 2021.
Target groups
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Workers
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Businesses
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Citizens
|
|
Does not apply to workers
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Larger corporations
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Does not apply to citizens
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Actors and funding
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Actors
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Funding
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National government
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National funds
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
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|
Role
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No involvement
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No involvement
|
|
Form
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Not applicable
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Not applicable
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Social partners' role in the
implementation, monitoring and assessment phase:
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No involvement
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Main level of involvement: N/A
Involvement
None.
Views and reactions
The views are critical. Social partners see the measures as not adequate.
Sources
