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Poland approved to receive more than 6 billion euros in EU funds

Polish zloty is the best performing currency in Central and Eastern Europe this year

Apr 15, 2024 15:33 365

Poland approved to receive more than 6 billion euros in EU funds - 1

Poland received 27 billion zlotys ($6.72 billion) in European Union funds, reports "Reuters".

Poland's new pro-EU coalition government has decided to resolve the row with Brussels over the rule of law that has blocked access to billions in funding.

Polish zloty is the best performing currency in Central and Eastern Europe this year.

"27 billion zlotys - Poland has just received the largest transfer from the EU in the history of our membership," wrote the country's Minister of Development Funds and Regional Policy Katarzyna Pelczynska-Nalets on the social network X.

In February, European Commission President Ursula von der Leyen announced that Warsaw would get access to €137 billion in funds after the new government began implementing reforms to restore judicial independence in Poland.

Pelczynska-Nalets indicated that Warsaw will submit its second and third financing applications by the end of August, with the aim of receiving the next tranche, which could be up to 10 billion euros, before the end of the year.

She clarified that Poland plans to spend 1.6 billion zlotys on clean air initiatives, 720 million zlotys to expand broadband internet coverage, 400 million zlotys on roads and railways, 250 million zlotys to shorten and diversify supply chains in agriculture and 200 million for childcare facilities.

The funds include nearly €60 billion to help EU countries recover from the COVID-19 pandemic and with the energy transition, consisting of €25.3 billion in grants and €34.5 billion in low-interest loans.

With just over two years left to spend on EU recovery funds, Poland is focusing on making the most of smaller grants from the program while treating low-interest loans as a back-up component, he explained high-ranking official.