The Sejm adopted the Anti-Crisis Shield 4.0

On Thursday, June 4, 2020, the anti-crisis shield 4.0 was adopted by the Sejm, which aims to protect Polish entrepreneurs against the effects of the pandemic and the recently completed quarantine.

Anti-crisis shield in the fight against the crisis

The government is trying to save Polish entrepreneurs from bankruptcy related to Covid-19 by introducing the so-called Anti-crisis shield. So far, over PLN 75 billion has been allocated for this purpose. The anti-crisis shield 4.0 introduces new provisions to enable the use of state aid in times of crisis. At the moment, the Senate is debating the bill.

Anti-crisis shield 4.0 assumptions

The anti-crisis shield 4.0 adopted by the Sejm envisages several important provisions, including:

- extension of the period of entitlement to care allowance until June 28. In addition, this time may be extended for groups of entitled persons and, in specific cases, depending on the functioning of a given facility.

- loan interest subsidies aimed at ensuring financial liquidity for the company suffering from the coronavirus are to start. Approximately PLN 570 million is to be allocated for this purpose, and you will be able to apply for the subsidy until December 31,

- the so-called credit holidays. It will be possible to freeze the loan repayment for up to three months. This option will be available to all those who lost their job or main source of income after March 13,

- starosts will be able to grant a one-off loan for a maximum of PLN 5,000, which will be used to cover the costs of running a business or a status non-governmental organization,

- local governments will be able to increase the debt, and they will not be obliged to pay installments for Janosik in June and July.

The Sejm also thought about prevention when it comes to hostile takeovers of Polish companies by foreign entities from outside the European Union. The anti-crisis shield 4.0 is to protect companies whose revenues in Poland exceeded EUR 10 million against this practice.