EU Commission approves 176 million euro Polish scheme to support companies

"The scheme was approved under the State aid Temporary Crisis and Transition Framework, adopted by the Commission on 9 March 2023 to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies. The new Framework amends and prolongs in part the Temporary Crisis Framework, adopted on 23 March 2022 to enable Member States to support the economy in the context of the current geopolitical crisis, already amended on 20 July 2022 and on 28 October 2022, the EU Commission said in a statement on Friday.

The EU executive explained the scheme "will take the form of subsidies on loan interest rates, will be available to companies active in the trading or purchasing of cereals, trading of agricultural plant seeds, or the purchasing or freezing of soft fruit". "The measure will be open to small and medium-sized companies. There will be over 1,000 beneficiaries under the scheme."

"The purpose of the measure is to provide assistance to beneficiaries that are currently facing liquidity shortages caused by the current geopolitical crisis," we read.

Furtheremore, the Commission "found that the Polish scheme is in line with the conditions set out in the Temporary Crisis and Transition Framework". "In particular, the aid (i) will not exceed €2 million per beneficiary; and (ii) will be granted no later than 31 December 2023."

"The Commission concluded that the scheme is necessary, appropriate, and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Crisis and Transition Framework," it said in the statement.

"On this basis, the Commission approved the measure under EU State aid rules."