Poland to invest billions in new security fund as part of enhanced defence strategy

Poland is establishing a Defence and Security Fund worth $7.8 billion for the modernization of their defence industry, expansion of strategic infrastructure and development of innovative defence technologies.

This development was announced by Finance and Regional Policy Minister Katarzyna Pełczyńska-Nałęcz via her official X account, Caliber.Az reports.

"Officially: Poland is the first in Europe to create a Defence and Security Fund within the KPO [National Recovery and Resilience Plan] framework. We will invest billions in shelters, dual-use infrastructure, and the development of Polish arms companies. We will strengthen our industry and research in new technologies," she wrote on X.

She added that the Polish Ministry of Finance has begun negotiations with the European Commission on the creation of the fund, which will be within the framework of the KPO development plan, designed for the country by the EU to stimulate and develop the economy after the COVID-19 crisis. According to the minister, an investment plan for the fund will be developed within two months in cooperation with the Ministry of National Defence and other ministries.

Polish media have reported that the redirection of funds from the KPO for defence purposes was one of the items on this week's government meeting. The funds will be allocated to the Security and Defence Fund (FBiO), which aims to strengthen Poland's defence capabilities and security and is worth 30 billion zlotys (approximately $7.8 billion).

By Nazrin Sadigova