Greece submits € 3.6 billion RRF payment request to European Commission

Photo source: European Parliament / © BELGA / AFP / L. Gouliamaki

The European Commission announced this week that it would assess in the next two months a request made by Greece for the disbursement of 3.6 billion euros in financial support under the Recovery and Resilience Facility (RRF) post -Covid-19 from the EU.

Greece filed for the first pre-financing payment – € 1.73 billion in grants and € 1.84 billion in loans – on December 29. Disbursement is expected by March.

The first payment will cover 15 stages, including several reforms and investments in the areas of energy efficiency, sustainable mobility, waste management and civil protection, labor market policies, health care, tax administration, justice, corporate extroversion and the RRF audit and control system.

Among the first countries to apply for its financial package and to submit its national plan called “Greece 2.0”, Greece should receive a total of 17.77 billion euros in grants and 12.73 billion euros in loans.

All payments to Greece under the EU RRF program are performance based and dependent on the implementation of the investments and reforms outlined in the plan submitted by Greece.

The Commission said in its statement that it would assess the request over the next two months and then send its preliminary findings on Greece’s achievement of the required milestones and targets to the Council’s Economic and Financial Committee (CEF).

Under the EU finance and loan agreement, Greece has already received a total of € 3.96 billion in pre-finance funds since early August.

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