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Financial aid consists of: credits at concessional financial terms to developing countries and countries undergoing transformation; payments towards the financing of selected initiatives implemented by international financial institutions; debt annulment. Pursuant to OECD Development Assistance Committee guidelines, preferential credits must have a grant element of at least 25%. It was decided in the framework of the OECD group of countries that subsidized export credits in the form of "tied aid" must have a minimum concessionality level of 35%.
In Poland, financial aid is implemented by the Ministry of Finance in co-operation with the Ministry of Foreign Affairs. 2010 data will be available in the 2nd quarter of 2011.
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2009 In 2009, Polish financial aid amounted to PLN 149m. - tied aid concessional credits: China - PLN 107m (USD 34.44m) on the basis of an inter-governmental agreement from 2000, Angola - PLN 21.21m (USD 6.82m) on the basis of an agreement from 2006, Montenegro - over PLN 2m (EUR 466.000) on the basis of an agreement from 2006, Vietnam - PLN 1.63m (EUR 376.000) on the basis of an agreement from 2008;
- payments towards initiatives undertaken by international financial institutions - a total of over PLN 17m (IMF - PLN 8m for the Liberian debt relief programme; World Bank group - two payments towards International Development Association: PLN 4.936m and PLN 430.000, payment of USD 1.2m towards Afghanistan Reconstruction Trust Fund);
- debt reduction was not conducted (arrears to Poland: Iraq, Cambodia, DPR Korea, Cuba, Mongolia, Mozambique, Sudan).
2008 In 2008, Polish financial aid amounted to over PLN 77m. - tied aid concessional credits: China - PLN 46.19m (USD 19.17m) on the basis of an inter-governmental agreement from 2000, Angola - PLN 14.69m (USD 6.10m) on the basis of an agreement from 2006, Montenergo - over PLN 7.19m (EUR 2.04m) on the basis of an agreement from 2006;
- payments towards initiatives undertaken by international financial institutions - a total of over PLN 5m (IMF - PLN 3.5m for the Liberian debt relief programme; World Bank group - two payments towards International Development Association: USD 526.000 and PLN 500.000, payment of USD 1.17m towards Afghanistan Reconstruction Trust Fund and USD 500.000 towards the Palestinian reform and Development Plan Trust Fund);
- debt reduction was not conducted.
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