The European Commission approved today Friday positive preliminary assessment of Greece’s fourth payment request for €2.3 billion in loans (not counting pre-financing), in its context Recovery and Resilience Mechanism, which is the focus of NextGenerationEU.

Following the assessment of the payment request submitted by Greece on 17 April 2024, the Commission reached the preliminary conclusion that Greece has satisfactorily completed one objective established in the Council’s implementing decision on the fourth tranche of the loan.

The payment request covers important steps for the implementation of investments that will promote positive changes for citizens and businesses in Greece in the areas of green transition, digitalisation, increasing export capacity, economies of scale and innovation.

The target in this payment request requires the signing of cumulative loan agreements of the MAA amounting to 4.5 billion euros from financial institutions to companies, to support private investment. It is part of the loan facility, which is the largest measure in Greece’s recovery and resilience plan.

The loan facility was established as part of Greece’s recovery and resilience plan to address the low level of private investment and thereby accelerate economic growth and economic growth. It aims to support private investments related to the green transition, digitalisation, increased export capacity, economies of scale and innovation. Businesses can benefit from easier access to finance through loans, as well as equity support for small and medium-sized enterprises. Examples of financed investments are the replacement of existing electricity consumption meters and metering systems with digital meters, investments in construction and civil engineering projects, the development of a photovoltaic park, the construction of wind farms and the increase of the production capacity of industrial facilities by adding new production lines.