Current:Home > ScamsPoland set to get more than 5 billion euros in EU money after commission approves recovery plan -FutureWise Finance
Poland set to get more than 5 billion euros in EU money after commission approves recovery plan
View
Date:2025-04-17 17:57:09
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! (69237)
Related
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- As billions roll in to fight the US opioid epidemic, one county shows how recovery can work
- Next level: Unmanned U.S. Navy boat fires weapons in Middle East for first time
- Investigators are being sent to US research base on Antarctica to look into sexual violence concerns
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- LL Cool J and The Roots remix 'Mama Said Knock You Out' for NBA In-Season Tournament
- We asked Hollywood actors and writers to imagine the strikes on screen
- Ben Simmons - yes, that Ben Simmons - is back. What that means for Nets
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Texas Rangers and their fans celebrate World Series title with parade in Arlington
Ranking
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- Pulling an all-nighter is a temporary antidepressant
- No police investigation for husband of Norway’s ex-prime minister over stock trades
- Fact checking 'Nyad' on Netflix: Did Diana Nyad really swim from Cuba to Florida?
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Lisa Marie Presley Called Out “Vengeful” Priscilla Movie Before Her Death
- Sam Bankman-Fried found guilty in FTX crypto fraud case
- Florida man faces charges after pregnant woman is stabbed, hit with cooking pan, police say
Recommendation
What do we know about the mysterious drones reported flying over New Jersey?
Blinken warns Israel that humanitarian conditions in Gaza must improve to have ‘partners for peace’
AP Week in Pictures: Europe and Africa
Eric Trump returns to the witness stand in the family business’ civil fraud trial
Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
As turkey prices drop, cost of some Thanksgiving side dishes go up, report says
North Korea is closing some diplomatic missions in what may be a sign of its economic troubles
Victor Wembanyama has arrived: No. 1 pick has breakout game with 38 points in Spurs' win