The EU has handed Poland 137 billion euros after the new pro-EU government in Warsaw began implementing reforms it says will restore judicial independence in the country.
European Commission President Ursula Von der Leyen made the announcement today, describing the development as "good news".
Unblocking the funds was an election promise made by Prime Minister Donald Tusk's pro-European coalition government.
Gaining access to it will provide an investment boost for an economy that has been buffeted by the fallout of the war in Ukraine and is weighed down by weakness in big trading partner Germany.
The EU has handed Poland 137 billion euros
Reuters
Von der Leyen said the decision to release up to 137 billion euros for Poland will be brought forward to next week.
Warsaw will also be able to tap around 76.5 billion euros in cohesion funds designed to help raise living standards in the European Union's poorest members.
Tusk said that Poland will put those funds "to good use". He also said that one and a half billion euros will go to Polish farmers, who have been protesting nationwide in recent weeks.
The previous government under the nationalist Law and Justice (PiS) party was embroiled in a long-running spat with the EU over reforms that critics said increased political influence over the courts.
Von der Leyen made the announcement today, describing the development as "good news"
PA
Brussels blocked Warsaw's access to the funds as a result of the row and said Poland had to meet milestones on judicial independence to unfreeze it.
Speaking today, Von der Leyen said: "I strongly welcome the action plan that your government presented to the member states this week. It is a powerful statement, it is a clear road map for Poland, and your efforts are decisive.
"Based on the reforms you have launched and the number of immediate steps you have taken on judicial independence, I have good news.
"Next week the college will come forward with two decisions on European funds that are currently blocked for Poland.
"These decisions will free up to 137 billion euros for Poland. This is from Next Generation EU and it is from the cohesion funds."
Smiling as Von der Leyen made the announcement, Tusk added: "That is 600 billion zlotys. This is really a mountain of money that we will put to good use and that we will also use to defuse all that is causing such tension and anxiety today."
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He continued: "It is no coincidence that the President [of the European Commission], mentioned these first, fast, payments, and among them will be one and a half billion euros.
"If I have understood correctly, this means over six billion zlotys, which will go directly to small and medium-sized food producers. This will be the first such influx of money, which can bring some sense of security and hope, including for our farmers."