The Commission disbursed the 4th payment of 998.6 million euros in grants (net of pre-financing) to Greece under the Recovery and Resilience Facility (RRF) on Wednesday.
As for all Member States, payments made to Greece under the RRF are performance-based and depend on the implementation by Greece of the investments and reforms described in its recovery and resilience plan.
On 6 June, Greece submitted to the Commission the fourth request for payment of 998.6 million euros in grants under the RRF covering 16 milestones and 4 targets. These cover several reforms in areas such as improving the justice IT system and increasing electricity production capacity from renewable energy sources. Investments in reforestation, fire prevention and upgrading energy security are also included.
On 4 September, the Commission adopted a positive preliminary assessment of Greece’s request for payment. The favourable opinion of the Economic and Financial Committee of the Council on the payment request paved the way for the Commission to adopt a final decision on the disbursement of the funds.
Greece’s overall recovery and resilience plan amounts to 35.9 billion euros with 18.2 billion euros in grants and 17.7 million euros in loans.