The Executive Vice-President of the European Commission, Valdis Dombrovskis, together with the Greek Prime Minister, Kyriakos Mitsotakis, announced on Friday 8 April, during a visit to Greece, the first payment to Greece of €3.6 billion under the Recovery and Resilience Facility.
Of this €3.6 billion, the institution explains in a press release, there will be €1.7 billion in grants and €1.9 billion in the form of loans, linked to the Greek National Recovery and Resilience Plan.
The financial support will cover reforms and investments in the areas of energy efficiency, electric mobility, waste management, the labour market, taxation, the business environment, health care, public transport and the Greek auditing and oversight system.
This payment follows Greece’s request for payment on 29 December, which covered 15 investment and reform targets that were positively assessed by the European Commission on 28 February.
The Greek Recovery and Resilience Plan calls for a total of €17.77 billion in grants and €12.73 billion in loans, for a total assistance of about €30.5 billion (about 16.63% of Greek national GDP, according to the Facility’s monitoring website). Some 37.5% of the financial support will be for climate objectives and 23.3% for the digital transition, the institution said. (Original version in French by Pascal Hansens)