On 5 March 2026, NBP President Adam Glapiński said Poland’s alternative to the EU’s SAFE programme must not reduce the central bank’s foreign currency reserves. He said the NBP would not propose a solution that lowers reserves. Glapiński said a possible approach could be based on the central bank’s profits. He added that details of such a mechanism have not yet been presented.
His remarks came amid debate on financing defence spending linked to the €150 billion SAFE programme. In Poland, the discussion has included disputes over borrowing and the conditions for spending funds under SAFE. No date was given for presenting a Polish proposal or draft legislation. The NBP did not announce any changes to the rules for managing reserves.