2026-03-24 12:20
publication
2026-03-24 12:20
On Tuesday, the Polish People's Party submitted to the Sejm a bill on the Polish Defense Investment Fund, correcting the presidential bill on this matter, under which the profit from the NBP is to be transferred to the Fund – said the Deputy Prime Minister, head of the Ministry of National Defense and president of PSL Władysław Kosiniak-Kamysz. PSL counts on the support of its coalition partners regarding the project.
“We have just submitted to the Speaker of the Sejm an act on the Polish Defense Investment Fund authored by the Polish People's Party club, which corrects the errors of the presidential project. If there is money in the National Bank of Poland, we are most interested in it being used for the security of the Polish state, to use this money as quickly as possible,” said Kosiniak-Kamysz.
“All the money that is available, that is possible today, should be allocated for a safe Poland, for the activities that we implement in our act and in the European SAFE program. This is not a choice, it is a supplement,” he added.
PSL counts on the support of the project from its coalition partners.
“I started with the coalition partners (…), I would like them to support it. Of course, this is a parliamentary, parliamentary project. It is not covered by the coalition agreement, so they have no obligations towards us. But hearing the prime minister's declaration (…) about the president's project, if there is a better project than your president's, I think it can gain even greater recognition among our coalition partners,” said the head of the Ministry of National Defense.
According to the PSL proposal, 90 percent NBP's profit from a given year is to be transferred to the Fund. Currently 95 percent the possible profit of the National Bank of Poland for a given year is transferred to the state budget, and 5 percent are transferred to the reserve fund at the National Bank of Poland, created from deductions from the profit of the National Bank of Poland.
“The Act (on NBP – PAP) states that 5 percent (of NBP profit – PAP) goes to securing reserves (reserve fund from deductions from NBP profit – PAP), but not that 95 percent must go to the state budget. So we write that 9/10 of this profit goes to the fund related to Polish security,” said Kosiniak-Kamysz.
The PSL project is intended to expand the subjective scope of the fund's operation compared to the presidential project.
“We pay a lot of attention to services such as the police and border guards. We are talking about cybersecurity, special services, their co-financing, as well as the military health service and the health service subordinated to the Minister of Interior and Administration. In this project, we are talking about military mobility, i.e. roads and railway routes intended to be used for the transport of military equipment and the movement of allied troops,” said the head of the Ministry of National Defense.
According to the presidential project, the proceeds from the NBP profit, previously paid to the state budget, would be redirected to the implementation of defense-related tasks, including the purchase of military equipment and defense systems, the purchase of equipment for uniformed formations responsible for state security, and investments in military and logistic infrastructure ensuring military mobility.
The resources of the Polish Defense Investment Fund are to come from, among others, from payments from the profit of the National Bank of Poland, loans, loans and bonds. If the payment from the NBP in a given year turns out to be lower than the amount provided for in the multi-annual program, BGK will have to borrow the missing amount, and these liabilities are to be covered by a State Treasury guarantee. The loan is to be repaid from the Fund's resources from NBP payments made in subsequent years.
Last week, after the presidential veto on the bill regarding the EU SAFE program, the government adopted a resolution on the Armed Poland Program. It provides that the loan from the EU SAFE program will be taken out by Bank Gospodarstwa Krajowego for the benefit of the Armed Forces Support Fund.
Poland's investment plan under the SAFE defense program envisages 139 projects. In total, Poland is to receive EUR 43.7 billion in the form of low-interest loans.
SAFE is intended to finance urgent large-scale investments in the European technological and industrial base of the defense sector. The program provides a total of EUR 150 billion in support in the form of low-interest loans for the purchase of military equipment, largely produced in Europe.
The draft bill on “SAFE 0%”: let's replace gold with cannons. We score the president's idea for financing armaments
Only a week after the first announcements, the public received the draft presidential bill on financing the expansion and modernization of the army. It follows that this goal is to be financed from the profits of the National Bank of Poland. Basically, the point is that money for the army is to be created from changing the principles of valuation of NBP metal reserves – writes Krzysztof Kolany, chief analyst of Bankier.pl.
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