Poland to allocate EUR 687 mln to boost ammunition production

2024-11-05 14:16 update: 2024-11-05, 14:35
Military exercises. Photo PAP/Tomasz Gzell
Military exercises. Photo PAP/Tomasz Gzell
The Polish government plans to invest PLN 3 billion (EUR 687 mln) to ramp up ammunition production, according to a draft law published on the government website late on Monday.

According to the draft, one of Poland's most urgent needs is the expansion and diversification of the national production base for large-caliber ammunition and replenishment of its reserves.

The proposed bill creates a legal basis for transferring money to the Capital Investment Fund, which will be used to recapitalise companies producing ammunition.

"The bill aims to create opportunities to provide financing for activities aimed at increasing the capacity for ammunition production," the document read. 

To this aim, under the draft law, Poland will earmark PLN 3 billion, of which PLN 2 billion (EUR 458 mln) will come from the Ministry of Defence's budget. 

The government aims to adopt the bill in the fourth quarter of this year, according to its website. (PAP)
mr/jch

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