Poland intends to sell a portion of its gold reserves to increase its military spending. A plan in this regard, currently considered as a solution for defense financing, was discussed by the governor of the Central Bank of Poland, Adam Glapiński, and President Karol Nawrocki, reports IPN referring to Bloomberg.

According to the source, the proposal could generate up to 48 billion zlotys (approximately 13 billion dollars) from the sale of a portion of the country’s gold reserves. The amount is expected to be used to strengthen defense capabilities and enhance national security.

Currently, Poland holds about 550 tons of gold. The initiative is also being considered as an alternative to the EU defense funding program, estimated at around 150 billion euros, which Polish authorities consider costly and politically controversial.

Poland is among the NATO states that have significantly increased their defense budgets in recent years, in the context of the deteriorating security situation in Eastern Europe.