The European Commission announced today that on December 29, Greece sent a request for disbursement of 3.6 billion euros in financial support, under the Recovery and Resilience Mechanism (RRF).
According to the Commission, Greece’s first payment request concerns 15 milestones covering many reforms and investments in the fields of energy efficiency, sustainable mobility, waste management and civil protection, active labor market policies, healthcare, tax administration, justice, business extroversion and the financial control system. Two of the milestones and goals concern the first steps of the implementation of the loan part of the RRF Facility.
The Commission now has two months to evaluate the request. It will then send its preliminary assessment of the fulfillment of the milestones and targets required by Greece for this payment to the Economic and Financial Committee of the Council (EFC).
It is recalled that the overall recovery and resilience plan of Greece will be financed with 17.8 billion euros in grants and 12.7 billion euros in loans. Greece’s payments under the RRF are performance-based and depend on the implementation of the investments and reforms described in the country’s recovery and resilience plan.
