European Commission endorses Greece's €30.5bn recovery and resilience plan

Greek PM Mitsotakis says the plan encompasses about 175 investment projects

Photo: EPA Greek PM Kyriakos Mitsotakis (L) and EC President Ursula von der Leyen (R) meet at the Ancient Agora in Athens, 17 June 2021.

The European Commission on Thursday adopted a positive assessment of Greece's recovery and resilience plan. This is an important step towards disbursing €17.8bn in grants and €12.7bn in loans under the Recovery and Resilience Facility (RRF) over the period 2021-2026, EC Press service reported. This financing will support the implementation of the crucial investment and reform measures outlined in Greece's recovery and resilience plan. It will play a key role in enabling Greece emerge stronger from the Covid-19 pandemic.

“The plan will help Greece build a better future,” EU Commission President Ursula von der Leyen said in Athens during a presentation at the Ancient Agora.

Greek PM Kyriakos Mitsotakis said the recovery plan encompasses about 175 investment projects, with main areas of focus including transitioning to a greener economy and digitalisation, including boosting high speed internet. The government expects the EU funding to mobilise added leverage from the private sector via equity capital and loans, meaning total funds for investments can reach about €100bn, Mitsotakis said, cited by Reuters. “Today marks the last act of the turbulence the pandemic brought and the start of the recovery plan,” he said. A fairer welfare means a stronger democracy,” Mitsotakis pointed out.

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