World Bank supports strengthening public finances in Poland with EUR 750mn loan
2012-06-20 17:53:39
The World Bank's board of directors has approved the First Public Finance Development Policy Loan of EUR 750mn for Poland.
This is the first in a series of two development policy loans (DPLs) supporting Poland's goal of strengthening public finances, according to the institution's press release.
The DPL is supporting the following development objectives: consolidating public finances to ensure a steady decline of the fiscal deficit to stabilize and over the medium-term reduce public debt to maintain favorable access to financial markets; strengthening fiscal institutions through the introduction of fiscal rules to ingrain a prudent fiscal stance over the medium term; advancing long-term fiscal reforms to secure the sustainability of social spending in view of Poland's demographic challenge, the release reads.