Greek recovery blueprint secures Ecofin approval
The Economic and Financial Affairs Council (Ecofin) of EU finance ministers on Friday adopted implementing decisions approving the amended Recovery and Resilience plans of Greece and another 12 countries (Belgium, Bulgaria, Croatia, Cyprus, Finland, Germany, Hungary, Ireland, Italy, Latvia, Poland and Romania).
Greece submitted its amended recovery and resilience plan in August, which includes a REPowerEU chapter.
The European Commission’s REPowerEU plan was launched in 2022 to facilitate the diversification of the EU’s energy supply and to minimize dependency on Russian natural gas.
The plan contains strong provisions for the green transition, allocating 38.1% (up from 37.5% in the original plan) of the available funds to measures that support climate objectives, while the modified plan contributes to the digital transition with 22.1% of its funds.
The plan is now worth 35.95 billion euros, with €18.22 billion in Recovery and Resilience Facility (RRF) grants and €17.73 billion in RRF loans.
Greek Minister of National Economy and Finance Kostis Hatzidakis, who attended the Ecofin meeting in Brussels on Friday, said this was another positive development for Greece in the last few days.
