SAFE Act Passed. What Will the President Do?
Poland's parliament approved participation in the SAFE military procurement program, which now awaits the president's signature.
The Polish Parliament, or Sejm, has approved amendments to the bill that allows Poland to participate in the SAFE military procurement program, which involves borrowing funds collectively with other EU states. This program aims to strengthen military capabilities across the EU and enables Poland to secure financing for purchasing military equipment. After the approval, the bill now awaits the signature of the President to become law.
According to the legislation, the Bank Gospodarstwa Krajowego, or National Economic Bank, will manage the expenditure of around 43.7 billion euros allocated from the SAFE loan. This initiative places Poland as the largest beneficiary of the program, with the government stating that nearly 90 percent of the funds will be directed towards purchasing equipment from domestic companies. This move is part of a broader strategy to enhance Poland's defense capabilities amid rising security concerns in the region.
The implications of this bill are significant, as it not only strengthens Polandβs military but also fosters economic growth by supporting local industries. The approval marks a critical step in enhancing Poland's security posture and increasing cooperation with EU partners. With the President's decision looming, the next steps will be closely watched, as they could impact both national defense policy and the local economy.