{"id":6220,"date":"2022-10-19T08:13:22","date_gmt":"2022-10-19T08:13:22","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/recovery-fund-funds-until-the-end-of-the-year\/"},"modified":"2023-07-24T09:10:46","modified_gmt":"2023-07-24T09:10:46","slug":"recovery-fund-funds-until-the-end-of-the-year","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/recovery-fund-funds-until-the-end-of-the-year\/","title":{"rendered":"Recovery Fund: Funds until the end of the year"},"content":{"rendered":"\n
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The acceleration of projects that help to absorb resources from the Recovery and Resilience Fund<\/strong>, such as subsidies for green<\/a><\/strong> and digital<\/a><\/strong> actions for SMEs is now being promoted by the Ministry of Finance<\/a><\/strong> . The aim is to absorb resources<\/strong>from the Recovery Fund amounting to 3.2 billion euros by the end of the year. In the eight months of January – August, 1.25 billion have already been placed on the market. euros<\/strong> from the Recovery Fund. How much clearly greater than 307 million euros<\/strong> that were absorbed throughout 202<\/strong>. However, competent sources of the Ministry of Finance admit that the achievement of the annual target<\/strong>, within the three months remaining until the end of the year, is difficult case<\/strong>. This is because among the projects to which it has been calculated that money will be allocated there are also investments that require tenders<\/strong>.<\/p>\n\n

The problems of delays<\/strong><\/h2>\n\n

A part of these competitions present the well-known problems<\/strong> of delays and jams.<\/strong> In the direction of accelerating absorption, green subsidy actions are being promoted in the immediate future, such as “I save by doing business”.<\/strong> A program that constitutes the version of<\/strong> the known program “Savings” for commercial properties.<\/strong> A second delay faced<\/strong> by the Ministry of Finance is coming from Brussels.<\/strong> THE The Commission has not yet issued the legal texts<\/strong> for the drafting and implementation of the program \n REpowerEU<\/a>\n<\/strong>, which for Greece and the rest of the EU countries will be an organic addition to the national programmes (in the case of Greece of Greece 2.0.) The result is that no one knows the eligible projects and the amount they will need to claim from the unallocated loans amounting to approximately 230 billion euros<\/strong> from the Recovery Fund. A additional difficulty<\/strong> in the process of revising the program is also put by high inflation.<\/strong> Which has upset the budgets of many of the infrastructure projects being implemented. The solution that has been chosen is the reduction of the physical object of the project.<\/strong> But it is a time-consuming<\/strong> process and requires<\/strong> negotiations which have started and are continuing.<\/strong><\/p>\n\n

The second tranche from the Recovery Fund<\/strong><\/h2>\n\n

In the midst of all this, the Ministry of Finance should, within the next few days, submit the request for the payment of the second installment from the Recovery Fund,<\/strong> which corresponds to subsidies amounting to 1.97 billion euros<\/strong>. In this phase, the implementation of the 25 milestones<\/strong> that must be met before the request is submitted is being reviewed, so that now, once submitted, only the three months of checks by the Community<\/strong> institutions remain before the money is disbursed to Greece<\/p>\n\n

Acceleration in loans<\/strong><\/h2>\n\n

On the other hand, the increase in interest rates by the European Central Bank and the declarations of even more aggressive increases in the near future have increased interest in<\/strong> low-interest loans totaling 12.7 billion euros<\/strong> which Greece has secured from the Fund. Loans that will finance private investments. Private investors<\/strong> have accumulated on the special platform of the Ministry of Finance for projects with total budget 3.92 billion euros until the end of August<\/strong> for green and digital investments, boosting extroversion and innovation. Until the end of the year<\/strong>, the investment budget to be submitted is expected<\/strong> to exceed 7 billion euros<\/strong>. A percentage of 20% is expected to receive final approvals from the Ministry of Finance and banks<\/strong>. The aim is to start implementation<\/strong> before the end of the year<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The acceleration of projects that help to absorb resources from the Recovery and Resilience Fund, such as subsidies for green and digital actions for SMEs is now being promoted by the Ministry of Finance . The aim is to absorb resourcesfrom the Recovery Fund amounting to 3.2 billion euros by the end of the year. 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