The European Commission said on Friday that it had approved a support program for Polish companies worth 176 million euros ($193.9 million) to assist small and medium-sized enterprises affected by the Ukraine crisis
MOSCOW (Pakistan Point News / Sputnik - 04th August, 2023) The European Commission said on Friday that it had approved a support program for Polish companies worth 176 million Euros ($193.9 million) to assist small and medium-sized enterprises affected by the Ukraine crisis.
"The European Commission has approved an approximately ��176 million ... Polish scheme to support companies in the context of Russia's war against Ukraine," the statement read.
The aid will be provided in subsidies on loan interest rates and will be available to companies active in the trading or purchasing of cereals, agricultural plant seeds or freezing of soft fruit, the document said.
"The purpose of the measure is to provide assistance to beneficiaries that are currently facing liquidity shortages caused by the current geopolitical crisis," the statement also said.
It added that the aid would not exceed 2 million euros per beneficiary and would be provided to the companies no later than December 31.
The European Commission opened floodgates last year to duty-free Ukrainian agri-food imports, such as grain, oilseed, eggs, poultry, apples and more. The imports undercut food prices in neighboring EU countries, threatening livelihoods of local farmers.
