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Monday, December 11, 2023

We’ll finally get there. Today is the first decision about money from KPO

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Today the European Commission will issue a positive recommendation on the expansion of Poland’s National Reconstruction Plan. These are additional loans worth 23 billion euros that Poland applied for on August 31.

Poland has a chance to receive an advance of 20%. this amount is less than 5 billion euros. The application for increased funding was submitted by officials of Mateusz Morawiecki, but if the payment actually takes place, then the government of Donald Tusk will have the cream, and he himself will be able to claim that, since he promised to unblock payments from KPO, he actually did so.

There is reason for satisfaction, because nothing has happened in this regard over the past two years, but we must remember that the payment of advances does not depend on the achievement of benchmarks. In order to receive money under the main KPO contract, the government will have to fulfill requirements related primarily to the rule of law, that is, regarding the reform of the judicial system.

Money from KPO. Just 3 years to spend billions

It may be difficult to act quickly here as the amendment to the Supreme Court Act is stuck in a paralyzed Constitutional Tribunal.

In the “main” KPO, 34 billion euros are awaiting unfreezing – 22.5 billion euros in the form of subsidies and 11.5 billion euros in the form of loans.

There is relatively little time left to spend the money: it must be used by the end of 2026. Assuming a scenario in which they finally reach recipients, some local authorities and private companies have already started issuing them (for example, the purchase of laptops for fourth-graders was financed from as yet undisbursed EU funds, as evidenced by stickers on the equipment), but these are separate initiatives . Most potential beneficiaries are afraid to finance expenses from an uncertain source. They don’t want to take the risk that the money will end up not being there, or it will be paid out in less, and these entities will have to pay for investments made from other sources.

The green energy sector will primarily benefit from KPO money. €3.7 billion will be spent on offshore wind farms and terminal infrastructure, €3.5 billion on energy-efficient building renovations and €800 million on supporting the development of green hydrogen technologies. Poland has also retained much larger funds from the Cohesion Policy for 2021-2027.

Designed by: Martina Koska
Source: Directly
  • Companies and markets
  • Economy

Source: Wprost

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