The implementation of Greece’s National Recovery and Resilience Facility “Greece 2.0” is on track, the European Commission announced on Wednesday, adding that the country was moving ahead with investments and reforms.

The Commission presented this week its mid-term evaluation of the Recovery and Resilience Facility (RRF). According to the report, to date, almost 225 billion euros in RRF funds have been disbursed to member states.

Greece’s revised recovery plan, which will fund at least 76 reforms and 103 key investments, was approved by the Commission last November.

The Commission report adds that in Greece, Slovenia and Croatia, plans were updated to help address natural disasters, which “made it challenging to implement certain reforms and investments”. It goes on to note that Greece should maintain the momentum in the implementation of reforms and ensure the efficiency of public administration in view of the national plan’s enlargement.

Greece’s Economy and Finance Ministry is scheduled to submit its fourth payment request for the disbursement of 2.3 billion euros in grants and 1 billion euros in loans in the coming months.

“The joint investment impulse from the RRF is … supporting upward economic convergence,” said European Economic Commissioner Paolo Gentiloni, adding that he expects “over half (54 percent) of all milestones and targets to have been completed by the end of 2024″.


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