Polish parliament approves legislation needed for EU recovery fund

By Reuters7 days ago

Reuters. FILE PHOTO: Polish Prime Minister Mateusz Morawiecki gives a statement in Budapest, Hungary, April 1, 2021. REUTERS/Bernadett Szabo

(Reuters) - Poland's lower house of parliament on Tuesday approved legislation essential to the European Union's 750-billion-euro ($901 billion) COVID-19 recovery fund, bringing the 27-nation bloc a step closer to implementing the plan.

AD

EU governments approved the recovery fund last year to help member states bounce back from the economic damage caused by the coronavirus pandemic. But all countries must ratify a decision to raise the upper limit for national contributions to the EU budget in order for the plan to go ahead.

We say a loud 'yes' to the development of Poland thanks to European Union funds - this is an opportunity to recover from the crisis after the pandemic, Prime Minister Mateusz Morawiecki told lawmakers before the vote.

The legislation was passed by a 290-33 margin with 133 abstentions. It now goes to the Senate, or upper house, which is expected to vote later this month.

Continue read on investing.com