On Friday, April 17, 2026, the Ministry of Funds and Regional Policy (MFiPR) and Bank Gospodarstwa Krajowego (BGK) signed an agreement under which Chrobry, a company managed by BGK, will be established. It will receive more than 22.5 billion PLN from the Security and Defense Fund (FBiO), sourced from the National Recovery and Resilience Plan (KPO). Chrobry will finance defense investments carried out by local governments and Polish companies.
Photos: MFiPR
The agreement enabling the establishment of Chrobry was signed at the MFiPR headquarters by Minister of Funds and Regional Policy Katarzyna Pełczyńska-Nałęcz, BGK President Mirosław Czekaj, and BGK First Vice President Marta Postuła. Poland, as the first and so far only EU member state, has redirected funds from the KPO to strengthen the country’s security and defense, as well as its preparedness for crisis situations. This means that roughly every tenth zloty from the KPO will go to the Security and Defense Fund. The ministry emphasizes that this was done at an accelerated pace: six months passed from the inclusion of the FBiO in the KPO in June 2025 to the entry into force of the law establishing the fund in January this year.
“We have signed an agreement that will lead to the establishment of Chrobry within Bank Gospodarstwa Krajowego. This puts the finishing touch on a large, comprehensive project: the Security and Defense Fund. Poland is the first and only country in the EU to create such a fund under the KPO, worth more than 22.5 billion PLN. Of this, 11 billion PLN will go to local governments. These will be preferential, partially forgivable loans intended for civil protection, dual-use infrastructure, including road construction, places of shelter, and secure water intakes. In other words, for everything that protects the population in the event of a military threat, as well as against cyberattacks and all kinds of hybrid aggression. Another 11 billion PLN will go to Polish entrepreneurs to support dual-use production and the modernization of activities in the area of cyber modernization,” said Minister of Funds and Regional Policy Katarzyna Pełczyńska-Nałęcz.
“The operating model of the special-purpose company Chrobry is based on two instruments: debt and equity. Most of the funds, 15.7 billion PLN, will be launched in the form of a debt instrument, with BGK directly responsible for its implementation and servicing. These will largely be long-term, very low-interest loans. The remaining 6.7 billion PLN will be contributed under the equity instrument, implemented directly by Chrobry,” said Mirosław Czekaj, President of Bank Gospodarstwa Krajowego.
“Diversifying projects by sector, in line with defined investment priorities, will support not only local governments, but also companies in sectors including defense, technology, industry, transport, and energy. For them, the Security and Defense Fund will be a powerful support mechanism that will ensure Polish companies’ competitiveness and growth opportunities in promising sectors,” said Prof. Marta Postuła, BGK First Vice President.
What will Chrobry invest FBiO funds in?
As the MFiPR explains, the funds in question will be allocated to strengthening state resilience and national security. Investment will focus on four areas:
- development of protective structures and civil protection infrastructure – more than 9.65 billion PLN for the construction of shelters and places of refuge, protection of local critical infrastructure, such as water intakes and wastewater treatment plants, and telecommunications infrastructure related to crisis management;
- cybersecurity investments – approx. 2.46 billion PLN to increase the security and reliability of digital infrastructure that collects data and supports management of our surroundings, including secure communications, water and sewage systems, public transport, and energy and fuel networks;
- construction and modernization of dual-use infrastructure – approx. 6.26 billion PLN for the construction and modernization of roads, bridges, and tunnels owned by local governments, as well as rail infrastructure, to meet standards required for military mobility;
- enterprise modernization – approx. 4 billion PLN to increase production capacity in the Polish defense sector and create new jobs in the regions; support will include the construction and modernization of production infrastructure, the purchase of software and IT services, machinery and equipment useful in crisis situations, and machinery and equipment necessary for business activity, particularly in industrial research and development work.
22.5 Billion PLN from the KPO for the FBiO
In January this year, the law establishing the Security and Defense Fund entered into force. It provides the basis for the agreement signed today between the MFiPR and BGK. Under the law, a special-purpose vehicle (SPV) managed by the bank will carry out the fund’s tasks (Over 22 Billion PLN for Poland’s Security and Defense: Government Adopts Priorities of the Security and Defense Fund).
The FBiO will be implemented through loans and equity instruments. Most of the funds – 70 percent, or approx. 15.7 billion PLN – will be made available in the form of loans, with BGK directly responsible for their implementation and servicing. These will largely be long-term, very low-interest loans. The remaining 30 percent, or approx. 6.7 billion PLN, will be used for equity investments carried out directly by Chrobry.
According to the schedule, calls for BGK loans are to begin in the second half of the year. The loans will be granted until December 2030, and their repayment period may be as long as 20 years.
Benefits for local governments
The new instrument will benefit both local government units and municipal companies, as well as enterprises in the defense, technology, industrial, transport, and energy sectors.
Half of the FBiO funds will go to local governments, which will be able to spend them on the construction and modernization of shelters, cybersecurity, and road infrastructure. Funding will cover protective facilities located both in existing buildings and in newly built facilities managed by local government units.
Loans for local governments will be interest-free and spread over many years. Partial forgiveness will also be possible. Enterprises will be able to use the most preferential financing terms available, in line with state aid rules.
Minister @Kpelczynska na #konferencjaprasowa ws umowy zawartej między #MFiPR i @BGK_pl dot. spółki #Chrobry. pic.twitter.com/KFiC8CxMSi
— Ministerstwo Funduszy i Polityki Regionalnej (@MFIPR_GOV_PL) April 17, 2026
Minister @Kpelczynska: 💬 Mamy unikalny instrument związany ze spółką #Chrobry, która będzie dysponowała prawie 7 mld zł w formie wkładów kapitałowych. Trafią one do 🇵🇱 przedsiębiorstw na rozwój produkcji zbrojeniowej i produkcji podwójnego zastosowania. To pierwsze tak duże… pic.twitter.com/rueJMLKpcQ
— Ministerstwo Funduszy i Polityki Regionalnej (@MFIPR_GOV_PL) April 17, 2026
Minister @Kpelczynska: 💬 Dzisiaj podpisaliśmy umowę, w wyniku której w @BGK_pl powstanie spółka #Chrobry. To kropka postawiona nad dużym, całościowym projektem, jakim jest Fundusz Bezpieczeństwa i Obronności z budżetem na ponad 22,5 mld zł. Z tego 11 mld zł dostaną samorządy.… pic.twitter.com/XurqRFofXg
— Ministerstwo Funduszy i Polityki Regionalnej (@MFIPR_GOV_PL) April 17, 2026
Dziś podpisałam umowę, dzięki której z udziałem @BGK_pl powstanie spółka CHROBRY.
Trafi do niej 22 mld zł z Funduszu Bezpieczeństwa i Obronności z KPO, z czego 7 mld dokapitalizuje 🇵🇱 firmy. Sfinansujemy m. in. technologie dual use oraz infrastrukturę i zwiększenie mocy… pic.twitter.com/p1Q6iTlsP1— Katarzyna Pełczyńska (@Kpelczynska) April 17, 2026
Nowe wsparcie BGK dla przedsiębiorców z sektora obronnego i „dual use”! 🛡️
BGK wprowadza specjalne warunki do gwarancji de minimis, tworząc w ten sposób nowe rozwiązania zaprojektowane dla firm z sektora obronnego oraz produktów podwójnego zastosowania.
To odpowiedź na potrzeby… pic.twitter.com/lcfTRzWgdT
— Bank Gospodarstwa Krajowego 🇵🇱 (@BGK_pl) April 16, 2026