Current:Home > MarketsPoland set to get more than 5 billion euros in EU money after commission approves recovery plan -Keystone Capital Education
Poland set to get more than 5 billion euros in EU money after commission approves recovery plan
View
Date:2025-04-11 18:43:37
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! (83699)
Related
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Simone Biles brings back (and lands) big twisting skills, a greater victory than any title
- Get a free Krispy Kreme doughnut if you dress up like Dolly Parton on Saturday
- OG Anunoby and Josh Hart are in the Knicks’ starting lineup for Game 7 against the Pacers
- Grammy nominee Teddy Swims on love, growth and embracing change
- Travis Kelce Shares Favorite Parts of Italy Trip With Taylor Swift
- Is iMessage not working? Thousands of users report Apple service down Thursday afternoon
- Bodies of three hostages, including Shani Louk, recovered by Israeli forces in Gaza, officials say
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Joey Logano dominates NASCAR All-Star Race while Ricky Stenhouse Jr. fights Kyle Busch
Ranking
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- The Race to Decarbonize Heavy Industry Heats Up
- Q&A: Kevin Costner on unveiling his Western saga ‘Horizon’ at Cannes
- 3 killed, 3 wounded in early-morning shooting in Columbus, Ohio
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Botanists are scouring the US-Mexico border to document a forgotten ecosystem split by a giant wall
- Indiana Pacers dominate New York Knicks in Game 7 to advance to Eastern conference final
- Taylor Swift pauses acoustic set of Stockholm Eras Tour show to check on fans
Recommendation
US wholesale inflation accelerated in November in sign that some price pressures remain elevated
Get a free Krispy Kreme doughnut if you dress up like Dolly Parton on Saturday
Sentencing trial set to begin for Florida man who executed 5 women at a bank in 2019
NBA Game 7 schedule today: Everything to know about Sunday's elimination playoff games
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
3 killed in western New York after vehicle hit by Amtrak train
Kevin Costner gets epic standing ovation for 'Horizon: An American Saga,' moved to tears
A complete guide to the 33-car starting lineup for the 2024 Indianapolis 500