President Karol Nawrocki and National Bank of Poland (NBP) President Adam Glapiński have proposed a Polish program called “SEJF 0%” as an alternative to the EU’s SAFE initiative. Instead of a loan from Brussels, the NBP could provide 185 billion złoty from its resources for the needs of arming the Polish military.
“This is a sovereign alternative that will not involve any interest, a loan lasting until 2070, or dependence on the political situation in the European Union,” the president emphasized.
During a press conference, President Karol Nawrocki reiterated his doubts about the SAFE program. Among other things, he pointed out that it would be repaid until 2070. In his view, the SAFE program is also “inconsistent with Article 4 of the Treaty on European Union, where security clearly belongs to the EU member states, not to the European Union itself.”
“The war in Iran and the recent operations of the United States also demonstrate what they demonstrate: above all, the effectiveness of American equipment,” Nawrocki stressed.
As the president explained, his meeting with NBP President Adam Glapiński took place “to find a beneficial, sovereign, secure, good, and effective alternative to SAFE.”
“Today, after weeks of meetings between experts at the Chancellery of the President, and also following the actions of the President of the National Bank of Poland, Mr. Adam Glapiński (…) we discussed the Polish SEJF 0%,” Karol Nawrocki said.
“Today I will send a letter to Prime Minister Donald Tusk and Deputy Prime Minister Władysław Kosiniak-Kamysz, inviting them to a meeting regarding the Polish SEJF 0%,” he added.
Among the drawbacks of the SAFE program, Nawrocki also listed the conditionality of disbursements, stressing that “the scope of conditionality included in SAFE poses a threat to the stability and development of the Polish armed forces.”
The National Bank of Poland is ready to cooperate with the government and the president on the “Polish SAFE 0%”program, NBP President Adam Glapiński assured during the press conference with President Karol Nawrocki. He added that the central bank’s reserves are “the reserves of all Poles.”