Current:Home > FinancePoland set to get more than 5 billion euros in EU money after commission approves recovery plan -SecureNest Finance
Poland set to get more than 5 billion euros in EU money after commission approves recovery plan
View
Date:2025-04-17 00:25:33
BRUSSELS (AP) — Poland is set to receive more than 5 billion euros ($5.5 billion) in EU funds after the European Commission gave a positive assessment Tuesday of the country’s revised recovery plan that includes green reforms and investments.
The 5.1 billion euros pre-financing is part of the bloc’s REPowerEU program aimed at helping the 27 EU nations recover from the energy crisis that followed Russia’s invasion of Ukraine last year, and reduce their dependance to Russian fossil fuels.
The announcement came a month after an election in Poland secured a parliamentary majority to pro-EU parties aligned with Donald Tusk.
A former EU Council president, Tusk is expected to become Poland’s next prime minister. He traveled to Brussels last month to meet with top officials and repair Warsaw’s ties with the bloc, aiming to unlock billions of euros in funds that have been frozen due to democratic backsliding under the outgoing nationalist government. The EU previously blocked to €34.5 billion ($37.8 billion) in post-pandemic aid over rule of law concerns.
Following the EU’s executive arm’s proposal, the council representing the EU countries has four weeks to greenlight the disbursement of money. EU finance ministers are expected to approve the plan at their next meeting on Dec. 8.
The total value of the Poland’s recovery plan, which includes the REPowerEU chapter, amounts 59.8 billion euros ($65.5 billion), including 34.5 billion ($37.8 billion) in loans and 25.3 billion in grants ($27.7 billion).
The European Commission says that Poland must reach “super milestones” before the bulk of the money can be released. A key milestone involves ensuring the independence of the judiciary.
“This means that no disbursement following a payment request under the (program) is possible until Poland has satisfactorily fulfilled these three ‘super milestones,’” the commission said.
The ruling party, Law and Justice, which has governed Poland for the past eight years, implemented a number of new laws that gave the executive and legislative branches greater control over the judicial branch. The steps have caused years of tensions between Warsaw and Brussels, and led to the funds to be frozen.
Law and Justice, however, is expected to have to hand over power soon to a bloc of pro-EU parties under the leadership of Tusk.
Law and Justice was the biggest vote getter among the parties that ran in national election on Oct. 15, however it lost its majority in parliament and the ability to govern.
The pro-EU parties, which already control a majority in parliament, are expected to have a government in place by mid-December. They have promised to take steps to ensure judicial independence.
However, much also depends on President Andrzej Duda, who is allied with Law and Justice. He holds veto power and his term lasts for another year and a half.
veryGood! (1)
Related
- The Daily Money: Spending more on holiday travel?
- Philadelphia police exhume 8 bodies from a potter’s field in the hope DNA testing can help ID them
- Sister Wives' Janelle Brown Details Bittersweet Memories of Late Son Garrison Brown
- There's NIL and Pac-12 drama plus an Alabama-Georgia showdown leading the College Football Fix
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Love Is Blind’s Sarah Ann Bick Reveals She and Jeramey Lutinski Broke Up
- Who is Matt Sluka? UNLV QB redshirting remainder of season amid reported NIL dispute
- 1 charged after St. Louis police officer hit and killed responding to crash
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- ‘System of privilege’: How well-connected students get Mississippi State’s best dorms
Ranking
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- The Latest: Candidates will try to counter criticisms of them in dueling speeches
- Margaret Qualley Reveals Why Husband Jack Antonoff Lied to Her “First Crush” Adam Sandler
- Who is Matt Sluka? UNLV QB redshirting remainder of season amid reported NIL dispute
- Meta donates $1 million to Trump’s inauguration fund
- Maryland files lawsuit against cargo ship owners in Francis Scott Key Bridge collapse
- Can AI make video games more immersive? Some studios turn to AI-fueled NPCs for more interaction
- Keith Urban and Jimmy Fallon Reveal Hilarious Prank They Played on Nicole Kidman at the Met Gala
Recommendation
Biden administration makes final diplomatic push for stability across a turbulent Mideast
Father of teenage suspect in North Carolina mass shooting pleads guilty to gun storage crime
Former Houston officer convicted of murder in deaths of couple during drug raid
Love Is Blind’s Sarah Ann Bick Reveals She and Jeramey Lutinski Broke Up
The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
Secret Service failures before Trump rally shooting were ‘preventable,’ Senate panel finds
Wisconsin mayor carts away absentee ballot drop box, says he did nothing wrong
New Jersey hits pause on an offshore wind farm that can’t find turbine blades