
The European Commission has today disbursed €4 billion to Greece in pre-financing, equivalent to 13% of the country’s grant and loan allocation under the Recovery and Resilience Facility (RRF). Greece is one of the first countries receiving a pre-financing payment under the RRF. The pre-financing will help to kick-start the implementation of the crucial investment and reform measures outlined in Greece’s recovery and resilience plan.
The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Greece’s recovery and resilience plan. The country is set to receive €30.5 billion in total over the lifetime of its plan (€17.8 billion in grants and €12.7 billion in loans).
Today’s disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. By the end of the year, the Commission intends to raise up to a total of €80 billion in long-term funding, to be complemented by short-term EU-Bills, to fund the first planned disbursements to Member States under NextGenerationEU.
Part of NextGenerationEU, the RRF will provide €723.8 billion (in current prices) to support investments and reforms across Member States. The Greek plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies.
Supporting transformative investments and reform projects
The RRF in Greece finances investments and reforms that are expected to have a deeply transformative effect on Greece’s economy and society. Here are some of these projects:
- Securing the green transition: €645 million will go towards financing the interconnection with the Cyclades Islands, increasing the potential for renewable energy sources as well as storage capacity.
- Supporting the digital transition: measures worth €375 million will boost the adoption of digital technologies, in particular by small and medium-sized enterprises, and will support the purchases of digital services and new technology cash registers.
- Reinforcing economic and social resilience: €740 million will be invested in strengthening active labour market policies to increase full-time employment, also for long-term unemployed and disadvantaged people. Further €627 million will be invested in improving and digitalising public administration; digitalising the justice system and accelerating legal court procedures; modernising and simplifying tax legislation.
Members of the College said:
President Ursula von der Leyen said: “I am delighted that today Greece will receive the first disbursement of funds under NextGenerationEU. This is the start of the implementation of Greece’s ambitious recovery and resilience plan, Greece 2.0, and the beginning of a greener and more digital future for the country. The European Commission will stand right by your side, to make this plan a success.”
Johannes Hahn, Commissioner for Budget and Administration, said: “After three very successful bond issuances under NextGenerationEU over the past few weeks, and the first payments for other NGEU programmes, I am glad that we have now also reached the disbursement stage for the RRF. Intense cooperation with Greece and solid preparation within the Commission allowed us to pay out the funds in record time. This shows that with the resources raised, we will be able to swiftly deliver on the pre-financing needs of all Member States, thus giving them the initial boost in implementing the numerous green and digital projects included in their national plans.”
Paolo Gentiloni, Commissioner for Economy said: “Today’s pre-financing payment to Greece is an important step to support the implementation of Greece’s plan, which includes major investments and far-reaching reforms over the next five years. We will continue to work closely with Greece to support its ambitious plan that stands to benefit every part of Greece and every segment of the Greek society.”


Latest News

The ‘Hot Spots’ in Greece for Holiday Properties
New holiday home projects are emerging across Crete

Bank of Greece Governor Rules Out 13th and 14th Salaries
Regarding the European Central Bank’s next moves on interest rates, he indicated that he does not foresee significant changes in monetary policy for the time being

Trump-Putin Call on Ending Ukraine War Set for Tuesday
Trump announces he'll discuss a potential Ukraine-Russia ceasefire with Putin on Tuesday. The U.S. President is cautiously hopeful talks can end the Ukraine war after positive U.S.-Russia negotiations in Moscow.

Newly Appointed Dep. Development Minister Aristos Doxiadis Resigns
His resignation has been accepted by the Prime Minister, and his replacement is expected to be announced in the coming days

Metropolitan Ioannis of Korce New Archbishop of Albania
Following the announcement of the election, church bells rang joyfully in Orthodox churches across Albania

Greece Faces Renewed Fears of Water Crisis Ahead of Summer 2025
Following a prolonged drought that began in 2024, fears of a water crisis highlight the urgent need for infrastructure improvements

Harvard, Yale, Columbia, and More Seek Collaboration with Greek Unis
Greece's former Minister of Education Kyriakos Pierrakakis announces an €82 million funding boost to support the partnerships

Greek Government Reshuffle Brings in More Young Technocrats
Greek PM Mitsotakis has brought in younger leaders and technocrats in a bid to accelerate the government's efforts at modernization and efficiency, according to New Democracy insiders

Greece’s New Government Members Sworn in at Presidential Mansion
Greece's new government members were sworn in on Saturday morning and head straight to work through the first meeting of the new cabinet.

Moody’s Upgrades Greece to Investment Grade, Ending Crisis Era
The rating agency raised Greece’s long-term credit rating to Baa3 from Ba1, with a stable outlook.