EC Confirms €1 BN Grants to Greece in Prelim. Assessment

The European Commission confirmed on Wednesday in a preliminary assessment that Greece had fulfilled all the prerequisites for the disbursement of €1 billion in grants as part of the Recovery and Resilience Facility (RRF).

Greece had submitted the payment request for the grant component in early June and was linked to the achievement of 20 milestones and targets outlined in Greece’s plan, which included, among others, the contracting of projects such as the electrical interconnection of the Cyclades, the renovation of the Olympic Athletic Center of Athens (OAKA), the forest protection programs Anti-nero I and II, and the improvement of road safety in municipal and regional road networks.

The EC has forwarded its positive assessment to the Economic and Financial Committee (EFC), which will issue its opinion within four weeks, as specified by the relevant Regulation. The final decision for the disbursement of the €1 billion will follow.

So far, 794 projects and project bundles are being implemented under the grant component of the Recovery and Resilience Facility, with a budget exceeding €22 billion.

Of these, €7.8 billion is allocated to green transition projects, €2.5 billion to digital transformation initiatives, €5.7 billion to actions supporting employment, skills, and social cohesion.