EU Commissioner for the Budget Piotr Serafin assessed that both the EU SAFE program and the “Polish SAFE 0%” proposed by President Karol Nawrocki. may prove useful for Poland. He emphasized, however, that the country's defense needs are so great that there is no need to choose between one solution and the other.
President Karol Nawrocki, together with the president of the National Bank of Poland, Adam Glapiński, announced on Wednesday the creation of a “Polish SAFE 0 percent”. The program would be an alternative to the EU loan mechanism for defense investments. The President announced that if necessary, he may present a bill on this matter.
When asked about this initiative by RMF24, Serafin emphasized that the European Commission should not comment on the details of national proposals. At the same time, he recalled that work on the EU SAFE program has been ongoing for over a year.
“You don't have to choose.” EC Commissioner on Polish SAFE
“Both SAFEs can be useful” – said the commissioner. He added that Poland's needs in terms of developing defense capabilities and supporting the arms industry are so great that “you really don't have to make a choice: one SAFE or the other SAFE“.
However, he drew attention to doubts regarding the financing of the announced program. “The President of the NBP says that he will finance this project with the profits of the National Bank of Poland, and for many years he has been informing that there are only losses“- emphasized Serafin.
During Wednesday's conference, Adam Glapiński explained that the project will not be financed from the central bank's currency reserves. As he noted, the use of these funds would be illegal.
“We cannot use any part of the reserves, in the sense that part of the reserves will be transferred, because it is against the law” – said the president of the NBP. He pointed out that if the central bank makes a profit, most of it – in accordance with applicable regulations – goes to the state budget.
“For example, the profit (NBP), mostly, 95 percent. we submit to the government. (…) In this case, we expect that the purpose is to strengthen Polish defense” — explained Glapiński. He added that the funds transferred to the budget could go to the Armed Forces Support Fund. “Our only task would be to transfer these funds. This is where our role ends“- he noted.
At the same time, last year the president of the NBP himself indicated that the central bank may record losses in the coming years. In 2024, the NBP result was negative and amounted to over PLN 13.3 billion, and in 2023 the loss exceeded PLN 20 billion. According to the law, only if a profit is made, the central bank transfers 95 percent. this amount to the state budget.
The government's vote on SAFE is 0%.
Marcin Kierwiński, Minister of Interior and Administration, also commented on the president's proposal. He admitted that additional security funds were needed, but drew attention to the lack of details regarding the planned program.
“I don't know, Poles don't know, and I guess Mr. Glapiński himself doesn't know yet either” – he said on TOK FM when asked about the sources of financing for the announced project.
In his opinion, few specifics were presented during the conference. “This looks like an advertising slogan, because 0% credit. always sounds nice. Payday loans are also advertised this way (…) I would expect a more serious message from the head of state“- he said.
Kierwiński also emphasized that increasing funding for the services and army is needed. “Any additional money will be useful for the Polish army, the Polish police, the Polish Border Guard” – he noted, adding that more funds mean, among others, modern anti-drone equipment and systems.
The minister also appealed to the president to sign the act implementing the EU SAFE program. “Mr. President, please do not interfere, please do not build alternatives. Please just sign the SAFE Act, otherwise you will deprive Polish officers of money” – he said.
“Clean politics”. Siemoniak on Nawrocki and Glapiński's proposal
A similar position was presented by the Minister Coordinator of Special Services, Tomasz Siemoniak. According to him, the “SAFE 0 percent” proposal may be primarily political in nature.
“You could say: “we have enough swords, but we will accept these too” if the intentions were good” – he stated on TVN24. However, he added that, in his opinion, the speech of the president and the president of the NBP was rather a reaction to the ongoing debate surrounding the signing of the act implementing the EU program.
Currently on the president's desk is the act adopted by the parliament introducing the SAFE program, i.e. a mechanism for EU loans for quick investments in defense. Under it, Poland may receive up to EUR 43.7 billion, i.e. nearly PLN 200 billion, which is to be allocated, among others, to: for the purchase of military equipment, support for the Police and Border Guard, and cyberspace protection.
The president has until March 20 to decide whether to sign the bill.
