EC approves spending of more than 5 billion EUR to restore Poland's economy

SGGP 11/23/2023 06:06

Poland is set to receive 5.1 billion euros in funding after the European Commission (EC) approved the country's economic recovery plan.

According to AP, the leader of Poland's Civic Coalition (KO) party Donald Tusk and President of the European Commission Ursula von der Leyen reached the agreement after the Commission gave a positive assessment of Poland's economic recovery plan, which includes reforms and green investments. The funding is part of the European Union's REPowerEU program to help the 27 member states recover from the energy crisis related to the conflict in Ukraine and reduce dependence on Russian fossil fuels.

The EU had previously blocked aid to Poland after the Covid-19 pandemic over concerns about legal reform. The total value of Poland’s recovery plan, which includes REPowerEU, is €59.8 billion, including €34.5 billion in loans and €25.3 billion in grants.

Source: https://www.sggp.org.vn/ec-duyet-chi-hon-5-ty-eur-phuc-hoi-kinh-te-ba-lan-post715305.html