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Coronavirus economy Finances Poland Zbigniew Kuźmiuk News

Coronavirus: Poland releases funds to save companies and workers on schedule

The first wave of bonds from the Polish financial shield has been a success, informs PiS MEP Zbigniew Kuźmiuk on his blog

editor: REMIX NEWS
author: Zbigniew Kuźmiuk

The first issuance of bonds from the Polish Development Fund (PFR), which are meant to cover the needs of the anti-crisis shield during the coronavirus outbreak, has been a success, said PFR CEO Paweł Borys on Monday,

The demand for the bonds was higher than the fund expected — €3.32 billion was planned for the first installment but instead €3.6 billion was raised at the attractive cost of 1.375 percent.

Borys stated that further payments will take place in the upcoming weeks to meet the financial needs of small, medium and large businesses applying for support from the financial shield.

The European Commission has also confirmed the financial shield program, which means that it can be activated and its bonds should be distributed in the next few days.