Government adopts bill which abandons WIBOR
20:47
Credit vacations, expansion of the Borrowers Support Fund and abandoning the use of WIBOR rates when calculating interest rates on loans – these are the most important elements of the aid package for borrowers that the government has adopted.
"Firstly, we are introducing four months of loan vacations this year and next year. The total benefit for borrowers is about PLN 3 billion on this account. Secondly, we will provide assistance to borrowers in financial distress, by law we will ensure that the Borrowers Support Fund will be increased to PLN 2 billion from PLN 600 million currently. This is the pool for this year, for next year there will be another PLN 2 billion," Prime Minister Mateusz Morawiecki said.
The fund is to be subsidized with banks' money.
