Poland will be given a total of €105.8bn from the EU 2014-2020 budget over six years, of which €72.9bn is set to power local investments, while the remaining €28.5bn will fuel country’s agriculture sector. The government has already started laying out a plan for how it will divvy up the funds to local governments, companies, homestands and non-governmental organizations.
“In large part, the money will be used for entrepreneurship and innovation programs, which will help to improve the competitiveness of local companies,” said Paweł Orłowski, deputy minister of Poland’s Regional Development Ministry. “We must also not forget about the road investments.” The funding is the equivalent of seven year’s worth of VAT revenues, or corporate taxes for 15 years, according to estimates by the daily Puls Biznesu.
