President Karol Nawrocki held consultations on the SAFE loan program at the Presidential Palace on Monday, March 9.
Nawrocki’s SAFE Consultations
Consultations regarding the modernization process of the Polish Armed Forces in the context of the EU SAFE loan took place on Monday (March 9) at the Presidential Palace. President Nawrocki was accompanied in the talks by the Head of the National Security Bureau, Sławomir Cenckiewicz.
SAFE Program Details
Under the SAFE (Security Action for Europe) program, 19 EU member states will receive a total of 150 billion euros to support defense investments. Poland will be the largest beneficiary, receiving nearly 44 billion euros. The support will be provided as 3 percent loans, which Poland will repay by 2070. 89 percent of the funds will be directed to Polish companies operating in the defense sector.
Presidential Decision Deadline
The bill implementing the EU SAFE program has been passed by the Sejm. It arrived at the president’s office on February 27. Nawrocki has until March 20 to decide on the program. He can sign the bill, veto it, or refer the project to the Constitutional Tribunal.
Alternative Polish SAFE Plan
However, the president, along with the head of the National Bank of Poland, Adam Glapiński, presented a ‘Polish SAFE 0 percent’ concept. This program would be financed with the help of the NBP. A meeting between the president and Prime Minister Donald Tusk is scheduled for Tuesday, during which the ‘prime minister will learn all the details’ about the alternative to the EU loan.