Approval of RRF finance of €3.64 bln
The European Commission has preliminarily approved Greece’s request for the disbursement of 3.64 billion euros under the Recovery and Resilience Facility. Of the €3.64 billion, €1.69 billion comprises grants and €1.95 billion loans.
In May, Greece submitted a payment request to the Commission for grants, based on the achievement of the 39 milestones and three targets selected. On November 22, Greece also submitted a payment request for loans concerning the achievement of one target.
The Commission said Greece had successfully implemented its 39 milestones and four targets. The milestones and targets include a series of reforms to enhance efficiency in public administration, including establishing a multi-level governance system that will streamline the allocation of responsibilities between central, regional and local authorities, and to enhance the fight against corruption and smuggling.
Other reforms include addressing weaknesses in urban planning, promoting the upskilling for employees and the unemployed, and establishing a regulatory authority to enable a more rational and effective waste management system and more sustainable management of water resources.
