Concerns Raised Over Unused RRF Financing Allocated to Greece

A European Commission delegation will reportedly arrive at the end of the month to examine the course of Recovery and Resilience Facility (RRF) funding and projects in Greece, given that although the scheme will conclude next September some 194 milestones remain pending, according to reports.

As such, discussions will focus on which projects and program must be re-examined and which must be replaced, given that they cannot be completed on time.

When announced in 2021, the Commission said the RRF package for Greece totaled 36.61 billion euros in value, of which 18.22 billion euros are grants and the rest “soft” loans.

Delays continue to plague the borrowing portion of the RRF package for Greece. Next up is a request by Athens for a seventh dose worth 3.5 billion euros – nearly half and half between grants and loans – is expected to be submitted in November. However, the request for the sixth installment, which should have been submitted this month, is delayed. A request for the eighth installment is scheduled for the first quarter of 2026, while the last must be submitted by the end of August 2026. The last tranche totals 5.4 billion euros, of which three billion will be grants and the rest loans.

Meanwhile, the Deputy Governor of the Bank of Greece (BoG), Theodoros Pelagidis, referred to data according to which only 10 billion euros (5.7 billion in grants and 4.3 billion in loans) out of the 36 billion euros have reached final beneficiaries so far.

Warning by BoG Dep. Gov.

Speaking at an event at the Athens Chamber of Commerce & Industry (EBEA), Pelagidis emphasized that we should “run to catch up in order guarantee the money that has been allocated to us, within the next 12 months, because our country is in dire need of this funding.”

Source: tovima.com