Poland may receive EUR 160 bn from EU in 2021-27: PM

Poland’s prime minister said after a EU summit on Friday his country could receive some EUR 160 billion in 2021-27 after a new proposal for the bloc’s COVID-19 recovery fund and from the European Union's next long-term budget.

PM Mateusz Morawiecki at a news conference in Warsaw on Friday

Photo: PAP/Radek Pietruszka

Mateusz Morawiecki said the money could help the Polish economy rebound after the hit it took from the coronavirus crisis.

Friday’s online summit had not been expected to produce a final agreement on how EU funds will be parcelled out.

Morawiecki said there was a chance of concluding a deal in July or August.

The European Union’s executive last month unveiled a EUR 750 billion proposal to prop up economies battered by the coronavirus.

The new recovery fund, dubbed "Next Generation EU," includes EUR 500 billion in grants and EUR 250 billion in loans for member states, with the money borrowed on financial markets and repaid from the bloc's budget. 

Polish media reported in May that Poland stood to receive more than EUR 63 billion from EU coffers in grants and loans under the recovery plan.

Morawiecki in April called for a “new Marshall Plan” for Europe to aid the continent’s recovery from the coronavirus crisis.

(pk)

Source: PAP