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Capital shield with the approval of the European Comission

< previous | next > 17.06.2020

Capital shield with the approval of the European Comission
  • The European Commission issued a positive decision on an aid scheme that provides for granting public aid to entrepreneurs in the form of capital investments, i.e. the so-called capital shield.
  • This means that PLN 7.5 billion will be allocated to companies that have suffered during the coronavirus pandemic.
  • The negotiations on this issue were conducted by UOKiK and PFR (Polish Development Fund).

The capital shield provides for the granting of aid to large and certain small and medium-sized enterprises in the form of initial capital increase (acquisition of newly issued shares or stocks, including through the subscription of warrants and their further conversion into capital) and capital-convertible loans or/and bonds. The aid is aimed at restoring a stable structure of companies which, during the COVID-19 pandemic, had to reduce or discontinue production or services and suffered from reduced demand as well. The aid scheme was approved under section 3.11 of the Temporary Framework for State aid measures to support the economy in the context of the ongoing Covid-19 epidemic.

The approved scheme has a budget of PLN 7.5 billion. The maximum amount of aid for one entrepreneur may amount to PLN 1 billion.

 The scheme was formally notified to the European Commission by the President of UOKiK on 6th May, while negotiations with the European Commission on the form of the scheme were conducted by UOKiK and the Polish Development Fund from 15th April.

Additional information for the media:

UOKiK Press Office
Pl. Powstańców Warszawy 1, 00-950 Warszawa, Poland
Phone +48 695 902 088, +48 22 55 60 246
E-mail: [SCODE]Yml1cm9wcmFzb3dlQHVva2lrLmdvdi5wbA==[ECODE]
Twitter: @UOKiKgovPL

Attached files

 

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