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English Section

Polish borrowers to be given a break amid virus crisis

21.05.2020 07:15
Borrowers will be able to have their loan repayments suspended for up to three months under a new set of rules adopted by Poland’s government amid the COVID-19 pandemic, a senior official has said.
Polish Deputy Prime Minister and Development Minister Jadwiga Emilewicz.
Polish Deputy Prime Minister and Development Minister Jadwiga Emilewicz.Photo: PAP/Piotr Nowak

The new rules are designed to benefit people who have lost their jobs and sources of income due to the coronavirus, Deputy Prime Minister and Development Minister Jadwiga Emilewicz told reporters on Wednesday.

No interest will be charged and no fees will be collected from such borrowers during the exemption period, she added.

The Polish government on Wednesday adopted a new measure to protect companies, jobs, borrowers and local governments from the fallout of the coronavirus crisis, Poland’s PAP news agency reported.

"This is another package of proposals as part of the government’s extensive anti-crisis shield," Emilewicz said.

The Polish government in March came up with a multibillion relief and stimulus package to mitigate the economic implications of the COVID-19 pandemic.

Prime Minister Mateusz Morawiecki has said that his government’s “anti-crisis shield” aims to deliver a massive injection of funds from state coffers in order to protect jobs, help the country’s entrepreneurs and maintain the liquidity of companies.

Poland’s parliament this month approved a measure to offer more support to the nation’s economy amid the coronavirus disruption.


Source: PAP