The Financial Shield has helped companies survive

The Financial Shield has helped companies survive

The Polish Development Fund (PFR) summarized the Financial Shield program, which supported companies during the pandemic.

Paweł Borys, head of PFR noted that out of over 350 thousand companies which received subsidies under this programme, almost all survived the pandemic. Only 19 companies were in the process of restructuring and 167 were in liquidation. PFR estimates that thanks to the Financial Shield about 600 thousand employees kept their jobs.

On the other hand, Bartosz Marczuk, Vice President of PFR, pointed out that under the program a total of 73.2 billion PLN of support was transferred to 353 thousand companies. This allowed to protect a total of 3.2 million employees. The total amount of write-offs within the financial subsidy settlements is about 43.8 billion PLN. So far, PLN 8.3 billion has returned to the PFR from both disks, and the target amount is about PLN 29 billion.

Source: https://www.bankier.pl/wiadomosc/Borys-koszt-obslugi-Tarczy-Finansowej-PFR-wyniesie-ok-1-7-mld-zl-8325409.html

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