announced Poland’s request for an additional EUR 23 billion of cheap loans from the National Recovery Plan (). This is part of the REPowerEU program to support the energy transition, which was created as part of breaking the EU’s dependence on fossil fuels from Russia. Investments financed from the EU Reconstruction Fund concern the development of electricity distribution networks in rural areas, and the development of gas infrastructure to enable the diversification of blue fuel supplies.
KPO for Poland. The government has applied for cheap loans
The Commission’s information shows that previously submitted projects for the use of KPO money have been changed and extended in accordance with the guidelines of the program supporting energy transformations. These include support for electricity transmission grids, renewable energy sources, energy storage, low- and zero-emission buses and offshore wind farms.
The European Commission reports that Poland has indicated high inflation in 2022-2023, which, in the opinion of the Polish government, must be included in the plan. “Poland has requested additional loans of €23 billion to finance the revised plan, in addition to the €11.5 billion loans already granted under the original plan. Together with the allocation of RRF (Recovery and Resilience Facility) grants. and REPowerEU (€22.5 billion and €2.76 billion respectively), these measures bring the modified plan submitted to almost €60 billion.
A total of ten European Union countries have asked the European Commission for additional low-cost loans as part of the revision of their NPCs taking into account the RePowerEU targets for a total amount of €127 billion. Not only Poland, but also Hungary submitted an application yesterday. The biggest one came from Spain – EUR 84 billion. As established, Poland submitted the application to Brussels at night, just before the deadline. – We can see that the Polish authorities are very interested in KPO and cheap loans. They are fighting for money, a source in the European Commission said anonymously. Rule of law milestones have not been changed.
What about KPO for Poland?
The Polish KPO, consisting of over EUR 22 billion in non-repayable subsidies and over EUR 11 billion in cheap loans, was approved by the European Commission in June last year. However, the money has not yet been paid out. The European Commission says that the conditions regarding the independence of the judiciary must be met. Poland is one of five countries that did not receive any money from the EU Reconstruction Fund, including advance payments. Apart from her, the Netherlands, Ireland, Sweden and Hungary are in this group.
Source: Gazeta
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