Poland Secures Major EU Recovery Fund Distribution for Economic Growth

Poland has secured over 117 billion zlotys, equivalent to $32 billion, in distribution agreements from the European Union's pandemic recovery funds. This represents 45% of Poland's total 255 billion zloty allocation from Brussels, highlighting a significant step towards rejuvenating the nation's economy post-COVID-19, according to the Development Funds Ministry.

The contracts encompass 66.5 billion zlotys in grants and approximately 50.7 billion zlotys as preferential loans, explained Development Funds Minister Katarzyna Pelczynska-Nalecz at a press briefing. In total, 774,000 contracts have been signed, showcasing the extensive reach and impact of this financial initiative.

Poland has already received 67 billion zlotys from previous requests and anticipates further receipts this year. The European Commission recently extended Poland's investment timeline under this scheme until the end of 2026, allowing the country more time to fully leverage these funds for economic recovery.

(With inputs from agencies.)