The European Commission is set to “green light” the release of the 4th installment amounting to €1 billion for Greece from the Recovery and Resilience Facility (RRF) next week.
The tranche is part of the €18.2-billion loan and subsidy package earmarked for Greece from the total 36 billion allocated for Greece. According to the Greek Finance Ministry, 794 projects and project bundles have already been included in the subsidies section.
Additionally, 339 loan agreements have been signed from the Recovery and Resilience Facility, corresponding to private investments totaling €12.4 billion, of which 50% is directed to small and medium-sized enterprises.
The next milestone is October, with the submission of the application for the disbursement of the 5th tranche from the Recovery and Resilience Facility, totaling €3.6 billion, of which €2.3 billion will be loans and €1.3 billion grants.
The prerequisite for the disbursement is the completion by the country of another 29 challenging milestones, as well as the contracting of €8.5 billion in new RRF loans by businesses (it is estimated that over €5 billion has been contracted so far).
The resources from the Recovery and Resilience Facility, amounting to €3.6 billion for this year, are driving the largest Public Investment Program (PIP) of the last 14 years, totaling €12.2 billion.
To date, it is estimated that approximately €5.5 billion has been injected into the economy, and according to the program, an additional €7 billion is expected to flow in during the last four months of the year.
