ECONOMY

Athens applies for first ‘Greece 2.0’ tranche

athens-applies-for-first-greece-2-0-tranche

Greece officially filed its first request for the disbursement of 3.56 billion euros in the framework of the National Recovery and Resilience Plan “Greece 2.0” on Wednesday, following completion of all relative landmarks and goals. 

The 15 landmarks and goals, agreed with the European Union, include preparations to extend loans to enterprises by banks, creating a legislative framework to promote the green transition, reforming the labor market, health, business activity, transport and taxation, and promoting infrastructure in civil protection and justice.

This tranche will represent €1.72 billion in subsidies from the Next Generation EU recovery fund and €1.84 billion in loans. Greece is one of the first countries to submit a request for disbursement. It received advance payments worth €3.96 billion (€2.31 billion in subsidies and €1.65 billion in loans) in early August.