NextGenerationEU: Commission receives payment request from Greece for €3.56 billion under the Recovery and Resilience Facility

The Commission received on Friday the second payment request from Greece under the Recovery and Resilience Facility (RRF) for a disbursement of €3.56 billion in financial support (net of pre-financing) of which €1.72 billion in grants and €1.85 billion in loans. Greece’s overall recovery and resilience plan will be financed by €17.43 billion in grants and €12.73 billion in loans. Payments under the RRF are performance-based and contingent on Greece implementing the investments and reforms outlined in its recovery and resilience plan. This second payment request relates to 28 milestones and targets covering several reforms and investments in the areas of sustainable transport, energy, land rehabilitation of lignite-affected territories, digital transformation, public administration and justice, skills, education and social, financial and fiscal policy, research and innovation, business extroversion and competitiveness, and development of the tourism, agriculture and industry sectors. Three of the milestones and targets concern the implementation of the loan part of the Facility. The Commission now has two months to assess the request. It will then send its preliminary assessment of Greece’s fulfilment of the milestones and targets required for this payment to the Council’s Economic and Financial Committee. More information on the process of the payment requests under the RRF is available in this Q&A. More information on the Greece recovery and resilience plan is available here.