Reconstruction Fund no replacement for cohesion, Common Agricultural Policy funding - PM

Morawiecki is at the ongoing EU summit in Brussels, at which EU leaders will seek agreement around the Community's next budget and a planned reconstruction fund for the EU members' economies in the wake of the coronavirus epidemic. Radek Pietruszka/PAP

The EU's Economic Reconstruction Fund cannot be a replacement for the to-date cohesion and agricultural policy, PM Mateusz Morawiecki wrote on Facebook on Friday.

Morawiecki is at the ongoing EU summit in Brussels, at which EU leaders will seek agreement around the Community's next budget and a planned reconstruction fund for the EU members' economies in the wake of the coronavirus epidemic.

Morawiecki wrote that the EU needed a development stimulus and said that the epidemic could prove to be one. He warned, however, that the EU's Economic Reconstruction Fund, an instrument set up to aid the EU members' economies in the wake of the coronavirus epidemic, was insufficient to take the place of traditional cohesion and agricultural funding.

The EUR 750 billion Economic Reconstruction Fund is to offer beneficiaries EUR 500 billion in grants and EUR 250 billion in loans.