FOFICIAL           L~34L
DOCUMENTS
STATUTORY COMMITTEE'tmiMMMu
TO: The President, International Bank for Reconstruction and Development
Report of Committee under Section 4 (iii) of Article III of the Articles of Agreement on the
Proposed Loan (First Resilience and Growth Development Policy Loan) to the Republic of Poland.
The undersigned Committee constituted under Section 7 of Article V of the Articles of Agreement
of International Bank for Reconstruction and Development (the Bank) hereby submits its report pursuant
to Section 4 (iii) of Article III of said Articles in respect of the proposal that the Bank grant to the
Republic of Poland (the Borrower) a loan in an amount of seven hundred million Euro (E700,000,000).
The purpose of said loan is to assist the Borrower's program aimed at: (i) enhancing macroeconomic
resilience; (ii) strengthening labor market flexibility and employment promotion, and (iii) improving
private sector competitiveness and innovation.
1.   The Committee has carefully studied the merits of the proposal to grant such a loan, and of the
purpose to which the proceeds of the loan are to be applied.
2.    The Committee is of the opinion that the Program in support of which the proceeds of such loan
are to be applied comes within the purposes of the Bank as set forth in Article I of said Articles of
Agreement, and that said Program is designed to promote the development of the productive facilities and
resources of the Republic of Poland and is in the interest of the Republic of Poland and of the members of
the Bank as a whole.


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REPUBLIC OF POLAND                   (First Resilience and Growth Development Policy Loan)
3.   Accordingly, the Committee finds that said Program merits financial assistance from the Bank, and
hereby recommends said Program for such assistance.
COMMITTEE
Senior Vice President and Group General Counsel
Expert Selected by Governor for
the Republic of Poland
Regional Vice President
Europe and Central Asia Region
Vice President, World Bank Group Chief Risk Officer
ftv     Senior Vice President and Chief Economist
Dated at Washington, D.C.