The budget of the European Funds for Modern Economy (FENG) program is PLN 36 billion, the Ministry of Funds and Regional Policy announced on Friday. It was added that these funds will go to, inter alia, for research, implementation of innovations, the use of advanced technologies, and industrial transformation.

The FENG is one of nine national programs in the new EU financial perspective for 2021-2027, which Poland will be able to use in the coming years. It was emphasized that the implementation of FENG is to increase the research activity and innovation of enterprises, as well as the activation of cooperation between the sector of enterprises and science.

"The smooth release of funds from the EU budget will have an impact on returning the Polish economy to the path of rapid growth after the pandemic. We will invest funds for scientists and entrepreneurs in the development of innovation and supporting research and development, which will contribute to increasing the competitiveness of Polish enterprises,” Waldemar Buda, Deputy Minister of Funds and Regional Policy, said. 

It was indicated that FENG will be available to entrepreneurs and companies, institutions from the science sector, company consortia, and business environment institutions, in particular innovation centers and financial institutions. The program will offer subsidies, financial instruments (equity/guarantee), and mixed instruments.

(PAP)