Polish companies to receive EU funds from 3rd quarter of 2021 - PM

The prime minister mentioned that the Polish government had decided not to wait for EU funds to offer assistance to Polish companies but that it had started to help them with domestic funds. Marcin Obara/PAP

Polish Prime Minister Mateusz Morawiecki has announced that Polish companies will begin receiving monies from the EU recovery fund around the third quarter of 2021.

Replying to the question whether EU funds could be directly used to help coronavirus pandemic-hit companies, the prime minister told a meeting in Złotokłos, central Poland, on Tuesday, that this subject had already been repeatedly debated during the meetings of the European Council.

"What we have been trying to do, is to show how important EU funds could be for a quick rebound in the future. I see this process as follows: I believe that sometime in the third quarter of this year, the European Recovery Fund, whose unprecedented funds we obtained during the most recent negotiations in Brussels, will start slowly flowing into the Polish economy," stated Morawiecki.

"With a slight delay, namely, within nine to twelve months, the partnership agreement, cohesion funds, and new tenders from the new budget perspective will begin gaining momentum," he continued.

The prime minister mentioned that the Polish government had decided not to wait for EU funds to offer assistance to Polish companies but that it had started to help them with domestic funds. He also stated that, in the period from today until the end of this year, Polish businessmen would be receiving domestic funds to kickstart economic situation, support investments, build credit lines, implement local government projects, as well, as infrastructural, energy and environmentl ones.

"We will be using domestic funds to make this economic incentive relatively large," he added.

The EUR-750-billion EU recovery fund was agreed upon in Brussels in July. It envisages EUR 390 billion in subsidies and EUR 360 billion in loans, with the Recovery and Resilience Facility being its main part.

According to the EC's estimates presented in September, Poland will receive EUR 18.9 billion in 2021-2022, and an additional EUR 4.1 billion in 2023, with the latter depending on the unemlpoyment rate in Poland.