The positive preliminary assessment of the first payment request of EUR 3.6 billion. Euro from the Recovery Fund submitted by Greece, announced on Monday 28 February 2022 by the European Commission, through the Deputy Minister of Finance, Mr. Theodoros Skylakakis, in the framework of the National Recovery and Resilience Plan "Greece 2.0".

Ursula von der Leyen, President of the European Commission. First payment from the Recovery Fund

"In our view, Greece is ready to receive its first payment from the Recovery Fund," he said. At the same time, he added that our country has made progress in the implementation of the Plan. "We will continue to support Greece on the ambitious path of recovery."

Paolo Gentiloni, Commissioner for Economic Affairs

"Greece has made a good start in implementing the ambitious Recovery and Resilience Plan by successfully completing the fifteen milestones linked to the first payment request." He referred, among other things, to the reforms that are being implemented. As well as loan facilities, which will provide significant liquidity to the private sector over the next five years.

The Commission points out in a communication that the achievement of these milestones contributes, significantly, to the effective implementation of the Plan. This is because some of them include legislative steps, which pave the way for the reforms and investments planned for the next stages of implementation of the Plan.

Greece is the fourth country to submit (29.12.2021) a payment request, after the milestones and targets selected in the Council implementing decision for the first tranche have been fully met. It is noted that, in total, only five countries have submitted a request for payment, out of the 26 that have submitted a Plan to the Commission.

In terms of milestones and targets, they are linked to reforms and investments in the following sectors:

• of energy efficiency
• of electromobility
• of waste management
• of the labor market
• of taxation
• of the business environment
• of health care
• of public transport
• of the control system for the implementation of the Greek program, etc.

The Commission sent the evaluation to the Economic and Monetary Committee (EFC). It requested its opinion within four weeks, as stipulated in the relevant Regulation.

Thodoros Skylakakis, Deputy Minister of Finance

"With the positive preliminary evaluation of the Commission, we enter the final stretch for the disbursement, within April, of the first installment of "Greece 2.0", amounting to 3.6 billion. euro. This significant boost, which will boost the country's economy, is the result of hard work. We filed our Plan second. We received approval from the first. We were the first to submit a payment request, which is progressing successfully. We continue our work to ensure the effective management of the resources from the Recovery Fund. We are reducing bureaucracy and speeding up the pace of implementation of the Greek program, in terms of transparency."