NextGenerationEU: European Commission endorses positive preliminary assessment of Greece's request for nearly €3.6 billion under the Recovery and Resilience Facility
The European Commission recently endorsed a positive preliminary assessment of Greece's payment request for €3.6 billion, of which €1.7 billion in grants and €1.9 billion in loans, under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.
On 30 September 2022, Greece submitted to the Commission a payment request based on the achievement of the 28 milestones and targets laid out in the Council Implementing Decision for the second instalment. They cover reforms and investments promoting the use of renewable energy so as to make the electricity market fit for a high share of renewables. They also include re-organising the railways sector to develop, operate and maintain a modern railway network, opening up the public bus transportation market to improve services and to promote a greener bus fleet. Other reforms and investments support the digital transformation of small and medium-sized enterprises, as well as interconnecting payment terminals with the tax administration, incentivising green and digital investments by the private sector, encouraging small companies to grow and export, enhancing the supervision of capital markets, creating new funding opportunities for research and encouraging new investments in the tourism, manufacturing and agriculture sectors.
With their request, the Greek authorities provided detailed and comprehensive evidence demonstrating the fulfilment of the 28 milestones and targets. As required by the RRF Regulation, Greece has also confirmed that measures related to previously satisfactorily fulfilled milestones and targets have not been reversed. The Commission has thoroughly assessed this information before presenting its positive preliminary assessment of the payment request.
The Greek recovery and resilience plan will be supported by €17.4 billion in grants and €12.7 billion in loans, of which €4 billion was disbursed to Greece in pre-financing on 9 August 2021. A first payment request from Greece was assessed positively by the Commission on 28 February 2022, which led to the disbursement of €3.6 billion on 8 April 2022.
Payments under the RRF are performance-based and contingent on Member States implementing the investments and reforms outlined in their respective recovery and resilience plans.
Latest News from
Climate change: Deal on a more ambitious Emissions Trading System (ETS)20/12/2022 10:33:00
On Saturday night, MEPs and EU governments agreed to reform the Emissions Trading System to further reduce industrial emissions and invest more in climate friendly technologies.
EU and Ukraine sign €100 million for the rehabilitation of war-damaged schools *20/12/2022 09:25:00
Exactly three months after President von der Leyen's announcement in her 2022 State of the Union Address, the European Commission and the Government of Ukraine have signed a €100 million support package for the reconstruction and rehabilitation of schooling facilities damaged in Russia's full-scale war of aggression against Ukraine.
NextGenerationEU: European Commission endorses positive preliminary assessment of Portugal's second request for €1.8 billion disbursement under the Recovery and Resilience Facility19/12/2022 16:33:00
The European Commission recently (16 December 2022) endorsed a positive preliminary assessment of Portugal's payment request for €1.8 billion of grants and loans under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.
'Fit for 55': Council and Parliament reach provisional deal on EU emissions trading system and the Social Climate Fund19/12/2022 15:25:00
The Council and the European Parliament reached a provisional political agreement on important legislative proposals of the ‘Fit for 55’ package that will further reduce emissions and address their social impacts.
Ukraine: EU agrees ninth package of sanctions against Russia19/12/2022 14:33:00
The Commission welcomes the Council's adoption of a ninth package of hard-hitting sanctions against Russia for its aggression against Ukraine.
Council and European Parliament agree on new safety requirements for machinery products19/12/2022 13:25:00
The Council and the European Parliament negotiators have reached a provisional agreement on the regulation for machinery products. The proposed legislation transforms the 2006 machinery directive into a regulation.
Human rights breaches in China, Chad and Bahrain19/12/2022 12:38:00
On Thursday, the European Parliament adopted three resolutions on the respect for human rights in China, Chad and Bahrain.
Commission welcomes political agreement on new rules to ensure the safety of machinery and robots19/12/2022 11:33:00
The Commission welcomes the political agreement reached by the European Parliament and the Council of the European Union on a new Machinery Regulation.
EU Cohesion Policy: €223.8 million for a just climate transition in Portugal19/12/2022 10:38:00
Portugal will receive more than €223.8 million under the Just Transition Fund (JTF) following hte recent (15 December 2022) adoption of three multi-fund programmes that include the Territorial Just Transition Plans (TJTPs).