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EU approves Poland’s Covid-19 recovery plan

Image: Images Money [CC BY 2.0], via Flickr

Plan entails spending €35.4 billion on reforms and investments in areas including research and innovation

The EU has approved Poland’s plan for spending its share of the bloc’s €800 billion Covid-19 recovery fund. The plan entails spending €35.4 billion on reforms and investments, in areas including research and innovation.

“This financing will enable Poland to foster its economic recovery from the Covid-19 pandemic and finance the green and digital transitions,” the Council of the EU said in a 17 June announcement.

EU economy and finance ministers in the Council approved the plan that same day, after the European Commission gave its endorsement earlier this month. Approval was delayed by about a year due to concerns over the independence of the Polish judiciary.

Poland will receive €23.9 billion in grants and €11.5 billion in loans. As required by EU rules, more than 40 per cent of its allocation will go to measures supporting climate objectives, and more than 20 per cent to measures supporting a “digital transition” such as digital skills and cybersecurity.

In its analysis of the plan, the Commission said some reforms and investments would focus on strengthening links among industry, research and education, with a particular focus would be on robotisation and health.

Disbursement of funds will begin once several “milestones” have been reached, including relating to judicial independence.