Poland is preparing to apply for the disbursement of funds from the National Reconstruction Program. It turns out that the government does not intend to use all available funds. We’ve got the details.
The Polish government will not benefit from the entire available loan pool under the National Reconstruction Program. Minister for European Union Affairs Szymon Shinkowski vel Senk noted that part of the grant will be used in full, while the other pool will be used only partially.
- This part (loans - ed.), which we intend to use and which we have declared, is less than the grant part. We don’t have to use all the credits. We would have 30 billion euros at our disposal, but we decided that we would use only a part - This was stated by Shimon Shinkovsky, aka Senk, on Radio Zet.
– The amount of grants is 22.5 billion euros and in the short term is irrevocable, and in the long term, after 2028, together with the entire European Union, which is the guarantor of this long-term, low-interest loan, we will also repay this part of the grant – the minister added.
KPO grants. We give much less than we receive
The minister also indicated how much Poland would have to return from the funds received. – In terms of capital, from 22.5 billion euros, if we develop at the predicted pace, we will pay out from 13.5 to 15.5 billion euros plus market-leading interest rates – he said. – No one who is professionally involved in economics doubts that at the moment this is the best money that we can raise – added.
Information about KPO for Poland strengthens the zloty
As he also pointed out, the markets are waiting for the payment of funds from KPO. The very information that it was close to an agreement had a very positive impact on the Polish economy.
– When Bloomberg first wrote that a compromise between Poland and the European Commission was close, the zloty strengthened, and the interest rate on our bonds fell sharply. This shows that the markets clearly view the receipt of funds from KPO as very positive news for Poland. the minister pointed out. – I assume that these funds will arrive in Poland at the end of spring, and we are fighting for such a prospect – also added.
Source: Wprost
