Polish President Andrzej Duda signed the ratification of the EU leaders’ decision concerning activating the EU Recovery Fund during an official ceremony at the presidential palace in Warsaw.
“This is an incredibly important moment for not only our country but the entire European Union. By signing this document today, the process of ratifying the European Council’s decision on the Recovery Fund and the multi-annual financial framework for 2021-2027 has come to an end,” the president said.
He added that Poland will be one of the greatest benefactors of the EU Recovery Fund.
The Chancellery of the President of Poland’s Twitter account shared a video from the ceremony itself.
— Kancelaria Prezydenta (@prezydentpl) May 31, 2021
Duda also thanked all the senators and MPs who supported passing the EU Recovery Fund and hoped that the funds will be available soon.
The Polish Senate passed the bill for the ratification of the EU Recovery Fund on Thursday without any additional amendments. Ninety-eight senators supported the motion and two abstained. No one voted against it.
The opposition-led senate majority had previously announced that it would add a preamble to the bill, but this did not happen in the end. Only 49 senators voted in favor of the preamble and 49 were against. One senator abstained.
In 2020 the 27 EU member states had reached an unprecedented agreement which entailed a €750 billion loan for the EU Recovery Fund which is meant to be the main tool for revitalizing economies following the coronavirus crisis.
Poland will receive approximately €58.1 billion from the EU Recovery Fund, including €23.9 billion in the form of donations and €34.2 billion in loans over the course of a few years. The basis for the funds is the National Recovery Plan which was sent to the European Commission on May 3, 2021.
Title Image: President Andrzej Duda signing the ratification of the EU Recovery Fund Source: Chancellery of the President of Poland’s Twitter account. Photographer: Jakub Szymczuk