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Wednesday, March 29, 2023
HomeEconomyIn the EU, the payment request for 3.56 billion euros, in the...

In the EU, the payment request for 3.56 billion euros, in the context of the Recovery Fund

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The amount is pre-financing, of which €1.72 billion is in grants and €1.85 billion in loans – The Commission now has two months to assess the request.

The European Commission announced today that it has received the second payment request from Greece for €3.56 billion under the Recovery and Resilience Facility (RRF) of the Recovery Fund (NextGenerationEU).

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The amount of 3.53 billion euros concerns pre-financing, of which 1.72 billion euros concern grants and 1.85 billion euros, loans.

It is recalled that Greece’s overall recovery and resilience plan will be financed with 17.43 billion euros in grants and 12.73 billion euros in loans.

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Payments under the RRF are performance-based and contingent on the implementation of the investments and reforms outlined in Greece’s recovery and resilience plan. This second payment request relates to 28 milestones and targets covering various reforms and investments in the areas of sustainable transport, energy, land rehabilitation of lignite-affected areas, digital transformation, public administration and justice, skills, of education and social, economic and fiscal policy, research and innovation, business extroversion and the competitiveness and development of the tourism, agriculture and industry sectors. Three of the milestones and targets relate to the implementation of the loan part of the RRF.

The Commission now has two months to assess the request. It will then send its preliminary assessment of Greece’s fulfillment of the milestones and targets required for this payment to the Council’s Economic and Financial Committee.

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