Commission pledges more funds to Greece

Commission pledges more funds to Greece

Greece stands to collect some 21 billion euros of European Union subsidies in the next program period that begins next year, European Commission Vice President Margaritis Schinas said on Friday at the National Development Conference in Athens on the Multiannual Financial Framework 2021-27.

The Greek commissioner referred to “an increase by about 8 percent from the current period.”

At the start of the conference Prime Minister Kyriakos Mitsotakis asked for “more European Union resources in order to support the new initiatives of the European Commission for tackling climate change and immigration.” He added that the initiatives the EU has set for the transition to a green economy require additional resources, “and that should be understood by countries that are in favor of an ambitious policy but are reluctant to spend funds.”

According to the Commission’s proposal, Greece will receive 19.2 billion euros (in 2018 prices) for the 2021-27 period, against 17.8 billion in 2014-20 through the Cohesion Policy resources. On top of this will be the funds Greece claims from the Just Transition Fund that will finance the support of lignite-producing areas. The final decisions will be made later this year.

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