On Wednesday, President Karol Nawrocki and the President of the National Bank of Poland, Adam Glapiński, presented a proposal for “Polish SAFE 0 percent”. Unlike the EU program, the “Polish SAFE” program would be financed with the help of the National Bank of Poland. Glapiński said then that the alternative to SAFE “will not involve any financial interest” and that the central bank does not plan to finance the proposal from “any part of the NBP reserves – because transferring them would be contrary to the law – while “the funds that will be created will be transferred as required by law” to the Armed Forces Support Fund.
Politicians from the ruling camp emphasize that this proposal cannot be an alternative to the EU program; must be complementary.
Sikorski, referring to the president's proposal on Thursday on the X platform, said that “the president's Safe 0% is a proposal to sell or pledge part of Poland's gold reserves.”
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“If the gold price is to fall, it is actually pure profit, but if it increases, there is a risk of a large loss. In any case, it would be speculation on the gold price. European SAFE is safer,” said the head of the Ministry of Foreign Affairs.
What can Poland gain from the EU SAFE program?
Poland is the largest beneficiary of the EU SAFE loan program – it can obtain approximately EUR 43.7 billion, or almost PLN 200 billion. According to the government's declaration, 89 percent funds from SAFE are to go to Polish arms companies. The money is to be used to strengthen Poland's security. It is about meeting the needs of the army, supporting the Police and Border Guard, and protecting cyberspace. The president has until March 20 to make a decision on the SAFE program
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