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Poland Redirects EU Post-Pandemic Recovery Funds
(MENAFN) The Polish government announced on Wednesday its decision to direct approximately EURO7 billion (USD7.5 billion) from its portion of the European Union's post-coronavirus pandemic recovery funds to bolster defense as well as security expenditures.
With the United States reducing its role in offering a security shield for Europe, Poland has acted swiftly to explore alternative strategies.
Poland has already significantly increased its defense budget, with projections indicating that by 2025, defense spending will reach 4.7 percent of the country's GDP, the highest among NATO members.
"We are the first in Europe to initiate this project of crucial importance … as part of the KPO (National Recovery Plan)," stated Prime Minister Donald Tusk during a Cabinet meeting in Warsaw.
"Every decision of this kind concerning modernization of the Polish army, defense industry, strengthening of the border, puts off the danger of war and is an act for peace."
This move would position Poland as the first EU member state to allocate its share of the EU's post-pandemic Recovery and Resilience Facility (RRF) to defense and security initiatives.
The funds would be directed towards the Security and Defense Fund (FBiO), which is intended to finance infrastructure as well as sectors related to dual-use (military and civilian) technologies, vital infrastructure for population protection, security research and development, as well as the modernization of defense and security firms and enhancing cybersecurity.
With the United States reducing its role in offering a security shield for Europe, Poland has acted swiftly to explore alternative strategies.
Poland has already significantly increased its defense budget, with projections indicating that by 2025, defense spending will reach 4.7 percent of the country's GDP, the highest among NATO members.
"We are the first in Europe to initiate this project of crucial importance … as part of the KPO (National Recovery Plan)," stated Prime Minister Donald Tusk during a Cabinet meeting in Warsaw.
"Every decision of this kind concerning modernization of the Polish army, defense industry, strengthening of the border, puts off the danger of war and is an act for peace."
This move would position Poland as the first EU member state to allocate its share of the EU's post-pandemic Recovery and Resilience Facility (RRF) to defense and security initiatives.
The funds would be directed towards the Security and Defense Fund (FBiO), which is intended to finance infrastructure as well as sectors related to dual-use (military and civilian) technologies, vital infrastructure for population protection, security research and development, as well as the modernization of defense and security firms and enhancing cybersecurity.
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