For me, it is important that the Constitutional Tribunal makes a decision as soon as possible, and I still assume that this will happen and that after the elections, Poland will receive these funds from the European Commission, said Paweł Borys, president of the Polish Development Fund, in the “One for One” program on TVN24, asked about the issue of money from the National Reconstruction Plan. The head of PFR also referred to the financial situation of the fund in connection with the pre-financing of projects under the KPO.
Paweł Borys, asked whether the lack of money from the National Reconstruction Plan this term is the biggest failure of the United Right government and the Prime Minister Mateusz Morawieckireplied: “no, because the government has completed all the milestones to receive the funds.”
Paweł Borys about KPO
In response to the comment that this was not the case, he clarified that he was talking about those “on the government side”. – The Parliament adopted changes to the Act (on the Supreme Court – ed.), and as we know, the President referred it to the Constitutional Tribunal. I don’t want to comment on this legislative processit is important for me that the Constitutional Tribunal makes a decision as soon as possible and I still assume that it will happen and that after the elections Poland will receive these funds from the European Commission – he said.
– As the president of PFR, I have no particular dilemmas when it comes to KPO. The act that implements the KPO states that PFR finances the KPO. All investments included in this plan have guaranteed financing, said Paweł Borys.
When asked how much PFR has spent so far on pre-financing projects from the KPO, he replied that “currently it is approximately PLN 5 billion.” To the comment that the KPO amounted to PLN 160 billion, he replied that “this process actually starts from the beginning of the year.”
– This was the moment when tenders were mainly announced and contracts were signed. We actually see that in the coming quarters this demand will be very significant, it may amount to several dozen billion zlotys next year – he said.
Borys: we have PLN 20 billion in our account at the moment
In this context, the head of PFR was asked about the fund’s financial situation. – We currently have PLN 20 billion in our account. These are the funds we received from the shield repayments. We are discussing with the Ministry of Finance, because next year we have to repay bonds from the financial shield of PLN 17 billion, whether we will allocate the funds to repay those bonds, and some of them to KPO, or in some other proportions – he added.
He explained that if PFR does not have the funds to repay the bonds, in accordance with the agreement concluded with the government, the Ministry of Finance will provide funds to cover the liabilities.
When asked whether PFR planned to issue bonds, the president said that no such decision had been made.
– We do not take any action related to the issuance of bonds. We are discussing with the Ministry of Finance how to manage liquidity in the context of bond repayment next year. If there is a need, we will do it, but there is no such need now, said Borys.
– If we assumed that funds from the KPO would arrive in the first quarter of next year, there is no problem, in fact if this process was prolonged, PFR would be forced to issue bonds – added the president of PFR.
Main photo source: TVN24