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Monday 6 May 2024 - 21:41

Unused EU Recovery Funds Should Go towards Defense, Polish Ministers Say

Story Code : 1133255
Unused EU Recovery Funds Should Go towards Defense, Polish Ministers Say
Poland is spending more on defense as a proportion of its GDP than other EU states and has called for EU members to ramp up defense spending in the wake of the outbreak of the Russia-Ukraine war.

"All unused national recovery plan funds should be shifted towards defense projects," deputy prime minister and defense minister Wladyslaw Kosiniak Kamysz said during a panel at the Defence24 conference in Warsaw, Reuters reported.

He added that there would be "a lot of such (unused) funds."

The EU in 2021 set up a 724-billion-euro fund, known as the Recovery and Resilience Facility (RRF), to be disbursed to member states over six years to boost public investment and help them emerge from the pandemic greener and more tech-friendly.

To get the RRF money, member states have to implement pre-agreed investments and reforms that will also boost growth in the years to come. Poland and some other countries are currently in a race against time to carry out necessary investments and reforms before access to the RRF expires in August 2025.

"I fully agree that unused national recovery plan funds, globally within the whole union, should go towards defense," Poland's foreign minister Radoslaw Sikorski said during the same panel discussion.

Poland is spending over 4% of its economic output, double the 2% NATO guideline, on defense.
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