Greece has officially submitted its fifth payment request to the European Commission under the Recovery and Resilience Facility (RRF), seeking a total of €3.1 billion. This request includes €1.35 billion in grants and €1.78 billion in loans, aimed at funding various reforms and investments across the country.
Key Takeaways
- Greece’s fifth payment request totals €3.1 billion, comprising €1.35 billion in grants and €1.78 billion in loans.
- The request addresses 32 milestones and objectives, including reforms in justice administration, broadband expansion, and mental healthcare.
- This submission follows four successful disbursement requests, bringing the total received to €18.2 billion, over 50% of the total budget for the National Recovery and Resilience Plan.
Overview of the Payment Request
The latest payment request was submitted by Alternate Minister of National Economy and Finance Nikos Papathanasis. It focuses on achieving 32 milestones and objectives, with specific attention to:
- Reforms:
- Investments:
Financial Implications
The total budget for Greece’s Recovery and Resilience Plan amounts to €35.9 billion, with €18.2 billion allocated as grants and €17.7 billion as loans. With the successful assessment of this fifth request, the total disbursements to Greece will rise to €21.3 billion, representing 64% of the total resources allocated under the RRF.
Next Steps
The European Commission will now assess Greece’s fifth payment request. Following this assessment, a preliminary evaluation of Greece’s fulfillment of the required milestones and targets will be sent to the Economic and Financial Committee. This process is crucial for determining the approval of the requested funds.
Conclusion
Greece’s ongoing efforts to secure funding through the Recovery and Resilience Facility highlight the country’s commitment to implementing significant reforms and investments. As the nation continues to navigate its recovery journey, the successful completion of this payment request will play a vital role in supporting its economic growth and resilience.
Sources
- Greece submits to European Commission the fifth payment request for grants and loans under the Recovery and Resilience Facility – Greece 2.0, Ελλάδα 2.0 – Εθνικό Σχέδιο Ανάκαμψης και Ανθεκτικότητας.
- Greece submits fifth RRF request for €3.1 billion | eKathimerini.com, eKathimerini.com.
