Recovery Fund: Greece received the first 3.6 billion euros – The 9 projects that are starting

The first payment of 3.6 billion euros was received today, Friday, by our country from the Fund for Recovery and Resilience. The European Commission positively evaluated the relevant request, sent by the person in charge of the implementation of the Greek Program, Deputy Minister of Finance, Mr. Thodoros Skylakakis, after the fulfillment of the 15 milestones.

Of the 15 milestones, ten concerned regulatory reforms implemented under the coordination of the General Secretariat of the Government under the Minister of State, Mr. Akis Skercos. The implementation of the milestones is monitored by the Special Service of the Recovery Fund, under its Director, Mr. Nikos Mantzoufas, while for the more specific milestones, which concern regulatory reforms, the responsible authority is General Secretariat of the Government, under Mr. Thanassis Kontogiorgis.

Of the 3.6 billion euros, 1.72 billion euros relate to the part of the non-repayable support of the Recovery Fund (ie subsidies) and 1.84 billion euros, respectively, to the part of loans.

Before Greece, only two countries out of the 27 EU have received the first installment payment from the Recovery and Resilience Fund.

Skylakakis: Greece is a trailblazer

Regarding today ‘s disbursement, the `, made the following statement: Europe, today disbursed 3.6 billion euros to the Greek budget. It is a happy circumstance that, on the same day, the invitations, amounting to 510 million euros, of “Greece 2.0” are issued for small and medium-sized agri-food companies and collective agricultural schemes, because it seems, in practice, that our National Recovery Plan meets the real needs of the Greek economy and society.”

Within the framework of the Greek Plan, there are programs that have already been completed, such as “Digital Care I”, which concerns the purchase, through vouchers, of technological equipment, with over 500,000 students as beneficiaries. Other programs and projects have already started to be implemented, such as the “Save” for households, which in the current cycle is expected to support 100,000 households, for energy saving investments, the reconstruction of the Koumoundourou High Voltage Center and the Transmission Line, which accelerates the entry of cheap Renewable Sources into the Greek energy mix, the “Digital Care II” program, which concerns the purchase of technological equipment for teachers and students in fire-affected areas, with 170,000 beneficiaries, the Central Greece Central Motorway and establishment of a National Disaster Risk Management Center.

In addition, five invitations are currently being issued to support the primary sector: “Green agro-tourism”, “Innovation and green transition to agricultural processing”, “Modernization of the Primary Sector”, “Animal Genetic Improvement” and “Crop Restructuring” .

The 9 projects that joined the Recovery Fund

At the same time, the implementation of a series of projects that have been included in the Recovery Fund begins, such as:

1. The Electrical Interconnection of Cyclades (Phase D), for which the tender procedures are completed.

2. The local and special urban plans, where the first round of declarations has been completed.

3. The protection of forests, with the start of forest clearing and the creation of fire zones (Anti-Nero program), through invitations from the local forest authorities.

4. The Digitization of a mortgage file for the National Land Registry, for which the tender process has been completed.

5. The Strategic urban regenerations, where in the framework of the invitation the submission of the proposals by the Municipalities is completed.

6. The Sewage Treatment Units, with the relevant invitation to be active (until 30.4.2022), for the submission of proposals by the Municipalities.

7. Large digital projects, modernizing the Public Sector, such as GOV_ERP – Coupling II and Interoperability, for which the tender procedures are at an advanced stage.

8. The digitization of the files of e-EFKA, which concerns the history of insured citizens and will contribute to the faster granting of pensions (it is in the process of being declared).

9. The Research Centers, for which the invitation has been issued for the upgrade of their structures.

Variety of programs and actions

The Recovery Fund also funds a variety of programs and actions, aimed at households and businesses. Specifically, the following actions have been activated:
1. Personal Assistant for the Disabled: The invitation has been issued and from 14.4.2022 the applications of the Disabled for the selection of a personal assistant start.

2. New generation training programs for 80,000 unemployed: Training providers have already been launched and an invitation has been issued for their registration in the relevant register.

3. The reform of the clawback system and its offsetting with research and investment expenditures: The invitation has been issued to the beneficiary companies.

Invitations are expected to be issued in the next period for:

• Subsidized employment programs for the unemployed over 45 years of age
• Upgrading the production equipment and infrastructure of small and medium processing enterprises (Smart processing)
• Creation – upgrade – rehabilitation of industrial parks
• Digital upgrade of small and medium enterprises
• “Saving” energy efficiency upgrade program for small and medium enterprises
• Replacement of taxis with electric vehicles (green taxis)
• “Charge everywhere “, which concerns the creation of thousands of charging points for electric vehicles in the country
• The large prevention program, with this first action for breast cancer

In total, more than 170 projects have been included in the Recovery and Resilience Fund, with a total budget of over 8.5 billion euros. At the same time, there is high interest from companies for the lending arm of “Greece 2.0” (the first investment of 10 million euros was announced a few days ago and concerns the Greek mining industry Grecian Magnesite S.A.), in which nine credit institutions participate (six domestic, the Hellenic Development Bank of Investments and two international).

The milestones met were:

• Renovation of houses (start of the first round)
• Α Charging points for electric vehicles (entry into force of the legal framework)
• Energy poverty (action plan approved)
• Tender for the construction of 13 Regional Civil Protection Operation CentersEntry into force of waste management legislation
• Entry into force of labor law
• Entry into force of legislation for the organizational reform of state employment agency OAED
• Entry into force of legislation for clawback
• Program of codification of tax legislation
• New Court Buildings (eligible buildings)
• Bill to encourage business extroversion
• Business agreements with international financial institutions
• Publication of the invitation to tender for commercial banks
• Entry into force of the legal mandate of Financial Control Committee and the creation of its management and control system
• Preparation of a roadmap for the reform of the railways

The course of Greece 2.0 until this time

• “Greece 2.0” was the second National Plan submitted (27.4.2021) to the European Commission and the third that received its positive evaluation (17.6.2021) and the approval of ECOFIN (13.7.2021).
• The pre-financing, disbursed on 9.8.2021, corresponds to 13% (3.96 billion euros) of the money corresponding to Greece from the Recovery Fund.
• Greece was among the first to sign (21.12.2021) with the Commission the necessary Business Arrangements and the third (after Spain and France) to submit (29.12.2021) the first request for payment, respecting the provisions of the Operations Settings – schedule.
• On 28.2.2022 the European Commission published its positive, preliminary evaluation, on the first payment request of Greece. There, the successful completion by our country of all the required milestones was reflected.
• The disbursement of the first installment, in the context of “Greece 2.0”, took place today, April 8, 2022.
• The second payment request is scheduled to be submitted in the summer, and disbursement is expected within 2022.