RRF tranche of €3.6 bln is on its way

RRF tranche of €3.6 bln is on its way

The European Commission on Thursday approved the disbursement of the second installment of the Recovery and Resilience Facility to Greece, amounting to 3.6 billion euros.

Therefore the total amount that has flowed so far into the Greek economy from the RRF, strengthening its liquidity, has reached €11 billion, since the advance given in August 2021 was €3.96 billion and the first installment, in April 2022, was €3.6 billion. “It is an important breath of liquidity, given the climate of uncertainty prevailing in the global economy,” commented competent Alternate Finance Minister Thodoros Skylakakis.

Thursday’s tranche consists of €1.72 billion for subsidies and €1.84 billion for loans. In fact, the installment for the loans has been made six months earlier than originally planned, as the relevant prerequisites were met on time. This translates into a benefit of €20-30 million, ministry officials argue. Normally, according to planning, of the two annual installments, only one contains loans.

The request for this tranche was submitted on September 30 by Skylakakis, as all 28 milestones required had been reached. Of these, 19 were reforms, six investments and three loans.

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