Polish president ratifies plan to unlock EU cash

Polish President Andrzej Duda on Monday ratified a decision by EU leaders on spending by the bloc, a move needed to unlock a stream of cash from Brussels, including money to help the Polish economy bounce back from the coronavirus crisis.

President Andrzej Duda.

President Andrzej Duda. Photo: PAP/Rafał Guzb

Polish senators last week approved a bill essential for the country to receive more than EUR 23 billion in subsidies and over EUR 34 billion in loans from the European Union’s massive COVID-19 recovery fund.

EU member states in December gave the green light for the bloc to borrow EUR 750 billion (USD 906 billion) and provide a cash injection for economies left reeling by the pandemic.

For the ambitious plan to be put into action, all 27 EU member states needed to ratify a decision to increase the bloc’s resources

 (pk)

Source: IAR/PAP

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