Greece requests RRF loans
Greece is among 13 EU member-states that have requested loans through the European Recovery Fund’s Recovery and Resilience Mechanism (RRF), the European Commission announced on Friday.
August 31 was the deadline for submissions of loan requests from the NextGenerationEU fund’s resources. The fund, set up after the coronavirus pandemic, contains 750 billion euros, of which €385.8 billion is earmarked for support in the form of loans.
The European Commission forwarded the loan disbursement requests to the European Parliament and Council for the final review, in a three-page document titled “Final Overview of Member-States’ Loan Requests Under the RRF.”
According to RRF regulations, where the loan request of a member-state exceeds the threshold of 6.8% of that member-state’s 2019 gross national income (GNI) in current prices, the Commission will also take into account the justification provided by the member-state as to the occurrence of exceptional circumstances.
The countries falling under these categories include Greece as well as Croatia, Italy, Poland and Romania.
