President signs law on ratifying EU own funds

Poland's president on Friday signed a law enabling him to ratify the EU's decision to increase its own funds in the bloc's post-Covid recovery programme, the President's Office announced on Friday.

The law expresses the Polish parliament's approval for the president to ratify an EU Council decision from December 14, 2020, concerning the EU's own funds.

Ratification of the decision by all EU member states is required in order for the post-pandemic Recovery Fund to be activated, among other measures.

The law signed by President Andrzej Duda on Friday comes into force on Saturday. The Sejm (lower house of parliament) passed it on May 4, and the Senate approved it on Thursday.

Duda's spokesperson, Blazej Spychalski, said on Friday that the president will ratify the EU Council decision on Monday.

Poland submitted its draft of the National Recovery Plan, a national scheme of how to use the funds, to the European Commission on May 3.

All EU countries have to submit a plan if they want to gain access to the EU's multi-billion euro post-pandemic aid package.

Under the Recovery Fund, Poland could receive some EUR 58.1 billion in grants and loans, including over EUR 34 billion this year.