Poland to Commit $8.5Bln to Investment Plan for EU - European Commission

European Commission said in a press release that Poland is set to allocate €8 billion euros ($8.5 billion) as part of its contribution to an ambitious infrastructure investment program for the European Union known as Investment Plan for Europe.

BRUSSELS (Sputnik) – Poland is set to allocate €8 billion euros ($8.5 billion) as part of its contribution to an ambitious infrastructure investment program for the European Union known as Investment Plan for Europe, European Commission (EC) said in a press release Tuesday.

“Today Poland announced that it will contribute €8 billion to projects benefiting from finance by the European Fund for Strategic Investments (EFSI), which is at the heart of the €315 billion Investment Plan for Europe,” the press release read.

In November 2014, EC President Jean-Claude Juncker unveiled a plan to generate a $336 billion investment in European infrastructure projects over the next three years (2015-2017). The plan will collect funds for modernizing transportation, increasing energy efficiency, and other as yet unidentified projects of what are termed strategic or societal importance.

On January 13, 2015, the EC adopted a legislative proposal for the EFSI to mobilize private and public investment across the European Union. The fund is expected to become operational by fall 2015.

Poland is the sixth country to contribute to the plan, following investment commitments from Germany, Spain, France, Italy and Luxembourg.