EU funds may start working in the Polish economy by the 1st quarter of 2021 – Deputy Prime Minister

The funds that Poland expects to receive from the European Union will be able to start working in the economy by as early as the first quarter of 2021, Deputy Prime Minister Jadwiga Emilewicz said on Tuesday during a press briefing.

The deputy PM, who is also minister for development, said the Development Ministry would start public consultations in the coming weeks on projects the funds could be spent on.

“An extremely important element from our point of view is how to launch, as quickly as possible, over EUR 160 billion that can reach Poland next year,” she said. “More than half of it is direct grants and the rest preferential loans. They can start working in the economy as early as the first quarter of next year. For that to be possible, we have to finish work on the National Recovery Plan.”

“We want in the course of the coming weeks to start public consultations so that everybody, the beneficiaries, all of us, can say in what way to invest those funds and, above all, entrepreneurs and representatives of business,” she added.

EU budgetary agreements provide for the value of the entire 2021-2027 EU budget to stand at EUR 1.074 trillion and a recovery fund of EUR 750 billion will be made up of EUR 390 billion in grants and EUR 360 billion in loans.

From the Multiannual Financial Framework and the the European Recovery Fund, Poland will receive about EUR 139 billion in the form of grants and EUR 34 billion in loans.

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