The support to Poland consists of 11.5 billion in loans and 23.9 grants.
The aim is to mitigate the economic and social consequences of the corona pandemic and facilitate the green transition of the Member States.
A total of EUR 724 billion will be distributed to EU countries within the framework of the so-called Facility for Recovery and Resilience (RRF).
Poland's part of the support has been controversial due to the rule of law in the country.
A decision has been delayed for over a year.
The approval comes after the Polish parliament recently voted in favor of abolishing the criticized disciplinary committee at the country's highest court.
Poland's plan calls for comprehensive reforms concerning the judiciary and the independence of the judiciary.
Among other things, judges affected by the disciplinary committee must be able to have the decision reviewed by an independent body that does not contravene EU law.
"Poland must show that these milestones have been met before any payments under the RRF can be made," the European Commission wrote.
Sweden's corresponding plan, worth just over SEK 30 billion, was approved in March.
Bah Kuhnke (MP) critical - sees risks
Alice Bah Kuhnke (MP), EU parliamentarian, calls the European Commission's decision a betrayal of all Poles who fight for freedoms and rights in the country.
"The risk is imminent that all these billions will be given to the Polish government, which will use the funds in its fight against those who are fighting for a democratic Poland," Alice Bah Kuhnke told SVT Nyheter.