Poland submitted an application regarding the KPO. We are seeking an additional EUR 23 billion

Poland asked the European Commission to modify the KPO and to add a chapter on the REPowerEU plan, created to end the European Union’s dependence on Russian fossil fuels. According to RMF FM, the changes proposed by Poland in the KPO are intended to contribute to the energy transformation and make the EU independent of energy supplies from Russia.

Application for modification of the KPO. We are fighting for an additional EUR 23 billion

The mentioned chapter includes new investments aimed at developing electricity distribution networks in rural areas, supporting institutions implementing activities to end dependence on Russian energy sources and developing gas infrastructure enabling the diversification of supplies.

Warsaw is applying for additional loans of EUR 23 billion. The justification indicated that the plan must take into account the impact of high inflation observed in 2022-2023.

– Poland has requested additional loans of EUR 23 billion to finance the revised plan, which is in addition to the EUR 11.5 billion in loans already granted under the original plan. Together with the allocation of RRF (Recovery and Resilience Facility – introduced by the EU to rebuild the economy after the Covid pandemic) and REPowerEU grants – EUR 22.5 billion and EUR 2.76 billion respectively – these funds make the submitted modified plan worth is almost EUR 60 billion – informs the European Commission.

The Commission will assess whether the modified plan still meets all the criteria set out in the RRF Regulation. If the EC’s assessment is positive, it will submit a proposal to change the decision of the EU Council to reflect the changes in the Polish plan. Member States will then have a maximum of four weeks to approve the Commission’s assessment.