Current:Home > StocksPoland set to get more than 5 billion euros in EU money after commission approves recovery plan -ThriveEdge Finance
Poland set to get more than 5 billion euros in EU money after commission approves recovery plan
View
Date:2025-04-12 20:51:52
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! (539)
Related
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- 29 Grossly Satisfying Cleaning Products With Amazing Results
- Attacks on Brazil's schools — often by former students — spur a search for solutions
- Some Young Republicans Embrace a Slower, Gentler Brand of Climate Activism
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- FDA pulls the only approved drug for preventing premature birth off the market
- This Week in Clean Economy: Green Cards for Clean Energy Job Creators
- Miranda Lambert calls out fan T-shirt amid selfie controversy: 'Shoot tequila, not selfies'
- New data highlights 'achievement gap' for students in the US
- This Week in Clean Economy: West Coast ‘Green’ Jobs Data Shows Promise
Ranking
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- When homelessness and mental illness overlap, is forced treatment compassionate?
- Alaska Chokes on Wildfires as Heat Waves Dry Out the Arctic
- This doctor fought Ebola in the trenches. Now he's got a better way to stop diseases
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Sarah Jessica Parker Shares Sweet Tribute to Matthew Broderick for Their 26th Anniversary
- Video: Covid-19 Drives Earth Day Anniversary Online, Inspiring Creative New Tactics For Climate Activists
- What does it take to be an armored truck guard?
Recommendation
Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
Today's election could weaken conservatives' long-held advantage in Wisconsin
India Set to Lower ‘Normal Rain’ Baseline as Droughts Bite
Julian Sands' cause of death ruled 'undetermined' one month after remains were found
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
Ethan Hawke's Son Levon Joins Dad at Cannes Film Festival After Appearing With Mom Uma Thurman
These Are the Best Appliances From Amazon for Small Kitchens
California’s Landmark Clean Car Mandate: How It Works and What It Means