Poland will receive advances from the Recovery and Resilience Fund as part of the review of the REPowerEU KPO. This amounts to more than 5 billion euros.
– The payment of the funds is the result of many months of work and very effective actions of officials of the Ministry of Funds and Regional Policy – said Grzegorz Puda, Minister of Funds and Regional Policy, on Wednesday.
He said that a positive assessment by the European Commission of the amended FPA and the new chapter of REPowerEU is expected early next week, and its adoption by the Council of the European Union is expected to take place on December 8.
Payment of advances to Poland
The payment of advances to Poland from the Recovery and Resilience Fund results from the programming of investments and reforms in the new chapter of the FPA, namely REPowerEU. The REPowerEU budget awards Poland €2.76 billion in grants and another €22.5 billion in loans. The funds will be disbursed after the Minister of Funds and Regional Policy signs agreements with the EC for the subsidy and loan portion in December.
Next year, Poland will receive advances in two tranches, each amounting to more than 2.5 billion euros (from the grant and loan part). Our country will receive two advances from the subsidy portion, each for an amount of more than PLN 1.2 billion. Poland submitted the application for revision of the KPO on time. – The awarding of money to our country under REPowerEU is the result of my submission, as Minister, of an appropriate application and the very effective actions of officials of the Ministry of Funds and Regional Policy – said Grzegorz Puda.
National Reconstruction Plan
As explained by the head of the Ministry of FiPR, the programming of the REPowerEU chapter and the revision of the remaining parts of the KPO, due, for example, to the increase in prices and disruptions caused by the war in Ukraine, are the result of the activities carried out at the technical level since April 2023, coordinated by the Ministry of Funds and Regional Policy and many discussions with the European Commission, based first on the draft revision and then on the formal request for revision of the KPO submitted by Poland in August.
The advance to REPowerEU is not dependent on Poland achieving any milestones. The REPowerEU chapter focuses on key issues for Poland’s energy transformation. Issues related to supporting sustainable transport are also taken into account, as well as developing vocational qualifications to create environmentally friendly infrastructure, especially with regard to energy efficiency in construction. The presented scope of reforms and investments was determined during negotiations with the EC.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
