IBRD Loan: US$1.31 billion
Terms: Maturity = 18 years, Grace = 5.5 years
Project ID: P130459
Project Description: This is the second in a series of two development policy loans supporting the government of Poland’s goal of strengthening public finances. The DPL program is structured around three pillars with the following development objectives: (i) consolidating public finances to ensure a steady decline of the fiscal deficit to stabilize and, over the medium-term, reduce public debt; (ii) strengthening fiscal institutions to further ingrain a prudent fiscal stance (including at the sub-national level) over the medium-term; and (iii) advancing long-term fiscal reforms to secure the sustainability of social spending in view of Poland’s demographic challenge. These policies aim to enhance Poland’s economic resilience in the face of adverse times and to protect fiscal space for key growth-enhancing investments.