Poland will receive over EUR 5.5 billion for the Defense Fund at KPO

Poland will receive over EUR 5.5 billion to establish a defense fund in KPO; The funds are to be found, among others, for the construction of protective buildings or investments in cybersecurity – according to the assumptions of the draft act on the defense fund in the KPO. The finished bill is to be adopted by the government by the end of September.

On Monday, the government's legislative and program works were founded by the assumptions of the Act on the implementation of the Security and Defense Fund under the National Plan of Reconstruction and Increased immunity, by the Ministry of Funds and Regional Policy.

“According to the attachment to the executive decision of the Polish Council, it is obliged to implement an action aimed at increasing the resistance of the Polish economy by structurally adapting the level of public support available to counteracting imperfections and market failure in security and defense sectors, including recapitalization of 5 577 991 477 euros for a special purpose company (SPV) in order to finance investments in the field of defense and security.” – were transferred in the assumptions of the bill.

According to the information included in the list, the draft Act will determine the goals of the Special Disady Enterprise (SPV) and qualifying investment areas for which support can be allocated. It is about the development of protective buildings and infrastructure of population protection, construction and modernization of double application infrastructure, investments in cyber security and modernization of enterprises, including support for scientific research and development.

The draft act is to include The requirement for SPV to be a BGK dependent unit, and BGK was the only owner of SPV. “Part of the capital brought to SPV will be entrusted to BGK by SPV, so that BGK can grant loans to end beneficiaries and manage directly these loan transactions. The remaining part of the capital will be allocated to capital investments.

The proposed provisions will also determine the SPV management structure, composition and obligations of various management and management bodies as well as relevant investment committees and the rules for their appointment. The finished project will also include a requirement that SPV investment decisions are made by relevant authorities and approved by a majority of votes of members independent of the government.

In addition, the planned Act is to determine the competences of the control committee, which includes, as co -chairman, the Minister of Funds and Regional Policy and the Minister of National Defense, as well as, as members, ministers competent for state assets: state assets, computerization, interior, economy and transport. The tasks of the Control Committee will include developing investment priorities, taking into account their significance for the security and defense of the state, and the analysis of the impact of projects financed by SPV on state defense and security.

The Minister of Funds Katarzyna Pełczyńska-Nałęcz previously announced that Poland would receive approx. PLN 25-26 billion for the Defense Fund.

The bill is to be adopted by the government in Q3 this year. In April, the Ministry of Funds reported that the Act would like the law to enter into force in September at the latest. (PAP)

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