The European Commission disbursed 1 billion euros from the Recovery Fund to Greece on Wednesday, Oct 16. This marks the completion of the country’s fourth payment request, submitted in early June.
Greece has now received a total of 18.2 billion euros from the Recovery and Resilience Facility (RRF) with this latest disbursement, surpassing 50% of the total budget allocated to its national “Greece 2.0” plan. This development has now placed Greece fifth among its 27 EU counterparts in terms of fund disbursement and absorption.
The payment request is closely linked to the completion of twenty key projects which include the Cyclades electrical interconnection, the renovation of the Athens Olympic Complex (OAKA) and the forest protection programs “Anti-nero I” and “Anti-nero II”.
Furthermore, it will contribute to the funding of projects aimed to improve road safety in municipal and regional road networks, the upgrade of safety measures at 13 regional airports, and reforms like the coordination of the Income Tax Code and Tax Procedure Code, as well as enhancements to the judicial system.
Deputy Minister of National Economy and Finance, Nikos Papathanasis, who oversees the Recovery and Resilience Fund, emphasized that the latest disbursement from the RRF’s grant component, following the positive evaluation of Greece’s request by the European Commission, is a result of the combined decisions, and effective efforts of Prime Minister Kyriakos Mitsotakis’ government and all stakeholders in implementing the ‘Greece 2.0’ national plan.
“Having now secured over 50% of the total budget allocated to us, further elevating Greece’s position in the European ranking for fund disbursements and absorption, we continue pushing forward with the reforms the country needs,” he noted.
