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KPO National Reconstruction Plan. Pre-financing – how much money has the Polish Development Fund paid out so far?

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Money from the National Recovery and Resilience Plan (KPO) has still not flowed to Poland. The reason is reservations regarding the implementation of the so-called milestones. However, investments reported under the KPO are already pre-financed from national funds. The Polish Development Fund has so far paid out pre-financing in the total amount of over PLN 461.4 million for five investments, said Deputy Minister of Funds and Regional Policy Małgorzata Jarosińska-Jedynak.

June 1, 2022 National Reconstruction Plan and Increasing Immunity has been approved by the European Commission. On June 17, the KPO was approved by the EU Council. So far, however, no money from KPO has reached Poland due to reservations about the implementation of the so-called milestones concerning e.g. the rule of law. It is about a total of over EUR 35 billion in the form of subsidies and preferential loans from the EU fund for economic recovery after the pandemic.

The amendment to the law on the Supreme Court, which was supposed to allow for the fulfillment of a milestone regarding the rule of law, went to the Constitutional Tribunal. Motion to the Constitutional Tribunal regarding the President’s amendment Andrzej Duda submitted on February 21. However, the date of the Tribunal’s hearing in this case is still unknown.

Read also: Milestones in KPO – what are they and why are they so important? What has Poland committed to?

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PFR is responsible for pre-financing programs from KPO

According to the assurances of the government, the lack of money from the KPO does not mean that the projects included in the program are not implemented. Government spokesman Piotr Mueller last week indicated that “KPO programs are implemented as part of national pre-financing”, i.e. from national funds.

The Polish Development Fund is responsible for financing the tasks included in the KPO. In August 2022 Ministry of Finance (MRiPS) and the Ministry of Development Funds and Regional Policy (MFiPR) signed an agreement with PFR. “The agreement opens the way to the possibility of pre-financing investments that have already started and have been submitted – under the KPO – by individual ministries” – we could read in a communiqué on the government’s website.

As Mueller said, when the proceedings before the Constitutional Tribunal are completed, “depending on its effect, of course, these funds can be returned as part of subsequent tranches from the KPO funds”.

She addressed an interpellation on the amount of advances paid on account of KPO contracts to the Prime Minister Mateusz Morawiecki was directed by MP Hanna Gill-Piątek. “Ambitious visualizations of projects to be implemented from the National Reconstruction Plan were seen throughout Poland during the government’s promotional campaign. Unfortunately, funds for the implementation of these promises of your government have not yet been provided,” wrote the parliamentarian.

Gill-Piątek asked how many advances and for which projects have already been paid under the contracts related to the National Reconstruction Plan.

How much money was paid out as KPO pre-financing?

Deputy Minister of Funds and Regional Policy Małgorzata Jarosińska-Jedynak, in response to Gill-Piątek’s interpellation, informed that PFR has so far paid pre-financing in the total amount of PLN 461,428.57 thousand. PLN for five investments implemented under the National Recovery and Resilience Plan.

The largest amount, in the amount of over PLN 460.3 million, was paid as part of the investment entitled “Replacement of heat sources and improvement of energy efficiency in residential buildings”, for which the Ministry of Climate and Environment is responsible.

The Deputy Minister of Funds announced under which investments pre-financing is paid out:

– Investments supporting the reform of labor market institutions (Institution responsible for the implementation of investments (IOI) – Ministry of Labor and Social Policy) – pre-financing amount PLN 447.81 thousand. zloty,

– Investment support programs enabling, in particular, business development, increasing participation in the provision of social services and improving the quality of reintegration in social economy entities (IOI – MRiPS) – pre-financing amount PLN 215.54 thousand. zloty,

– Support for co-financing programs for childcare places for children 0-3 years old (nurseries, children’s clubs) under Toddler plus (IOI – Ministry of Labor and Social Policy) – pre-financing amount PLN 362.57 thousand. zloty,

– Investments for enterprises in products, services and competences of employees and staff related to the diversification of activities (IOI – MFiPR) – pre-financing amount PLN 417.22 thousand. zloty

– Replacement of heat sources and improvement of energy efficiency in residential buildings (IOI – MKiŚ) – pre-financing amount PLN 460,348.00 thousand. zloty.

Money from the so-called financial shields

On Wednesday, the vice-president of the Polish Development Fund, Bartosz Marczuk, spoke in an interview with the Polish Press Agency about the pre-financing of investments from the National Reconstruction Plan.

The deputy head of PFR pointed out that, in accordance with the needs reported by the ministries, the Polish Development Fund has already transferred about PLN 400 million for pre-financing, and “in the near future it will be over a billion”. He reminded that PFR has built a settlement system through which appropriate funds from KPO will be distributed when they reach Poland.

At the moment, PFR is allocating money from returns made by companies that received support from the PFR Financial Shields during the COVID-19 pandemic to various types of projects. – Currently, there are about PLN 19 billion on our accounts, and ultimately it will be PLN 28 billion – said Bartosz Marczuk. He added that every month companies return about PLN 800-900 million.

Marczuk pointed out that PFR under all so-called financial shields paid out about PLN 73.2 billion in support for about 353,000. entrepreneurs. As part of redemptions, about PLN 43.8 billion will remain on the accounts of entrepreneurs, and PLN 29.4 billion will return to PFR.

Main photo source: Shutterstock

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