The European Council accepted the amendment to the Polish National Reconstruction Plan. This means initiating an advance of 5 billion euros.
The information was reported by TVN24, citing the Permanent Representation of the Republic of Poland to the EU. On Friday, the finance ministers of the Member States approved Poland’s application to amend the KPO. In November, the European Commission issued a positive opinion on the changes proposed by Poland.
Funds for 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 part 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.
It should be emphasized that the payment of the advance does not mean the unblocking of the Polish National Reconstruction Plan, as it means that Warsaw meets the so-called milestones. The money in question is extra money for Russia’s energy independence. The advance is not dependent on the rule of law in our country.
– The Commission is still waiting for changes in the disciplinary procedures against Polish judges, without which the Polish government cannot even send the first payment request – said the TVN24 reporter.
“The adjusted plan for Poland has a value of 59.8 billion euros (34.5 billion euros in loans and 25.3 billion euros in grants) and includes 55 reforms and 56 investments,” the portal tvn24.pl reported.
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.
