Concerns Raised Over Unused RRF Financing Allocated to Greece

A European Commission delegation will reportedly get astatine the extremity of the period to analyse the people of Recovery and Resilience Facility (RRF) backing and projects successful Greece, fixed that though the strategy will reason adjacent September some 194 milestones stay pending, according to reports.

As such, discussions will absorption connected which projects and programme indispensable beryllium re-examined and which indispensable beryllium replaced, fixed that they cannot beryllium completed connected time.

When announced successful 2021, the Commission said the RRF bundle for Greece totaled 36.61 cardinal euros successful value, of which 18.22 cardinal euros are grants and the remainder “soft” loans.

Delays proceed to plague the borrowing information of the RRF bundle for Greece. Next up is simply a petition by Athens for a seventh dose worth 3.5 cardinal euros – astir fractional and fractional betwixt grants and loans – is expected to beryllium submitted successful November. However, the petition for the sixth installment, which should person been submitted this month, is delayed. A petition for the eighth installment is scheduled for the archetypal 4th of 2026, while the past indispensable beryllium submitted by the extremity of August 2026. The past tranche totals 5.4 cardinal euros, of which three cardinal will beryllium grants and the remainder loans.

Meanwhile, the Deputy Governor of the Bank of Greece (BoG), Theodoros Pelagidis, referred to information according to which lone 10 cardinal euros (5.7 cardinal successful grants and 4.3 cardinal successful loans) retired of the 36 cardinal euros person reached last beneficiaries so far.

Warning by BoG Dep. Gov.

Speaking astatine an lawsuit astatine the Athens Chamber of Commerce & Industry (EBEA), Pelagidis emphasized that we should “run to drawback up successful bid warrant the wealth that has been allocated to us, within the adjacent 12 months, due to the fact that our state is successful dire request of this funding.”

Source: tovima.com