European Commission Approves Fourth 2.3 Billion Loan Payment to Greece Under RRF

In a significant boost to Greece’s economic recovery efforts, the European Commission has disbursed the fourth payment of 2.3 billion in loans under the Recovery and Resilience Facility (RRF). This latest installment, finalized yesterday, underscores the EU’s commitment to supporting member states through performance-based funding.

The disbursement follows Greece’s fourth payment request submitted on April 17, 2024. The request focused on achieving a key milestone: advancing the Loan Facility to stimulate private investments. These investments are aimed at critical sectors including green and digital transitions, export capacity enhancement, and research and innovation.

The Commission’s preliminary assessment of Greece’s request, completed on June 14, 2024, was positive, reflecting Greece’s successful implementation of its recovery and resilience plan. The Economic and Financial Committee of the Council also endorsed the payment, enabling the Commission to proceed with the final disbursement.

This financial support is part of the broader RRF framework, which ties funding to the successful execution of specified reforms and investments by member states, ensuring accountability and progress towards shared economic goals.

Source: tovima.com