The Recovery Fund is entering its final phase after five years, with the deadline for implementing reforms and investment plans having expired on Monday.
The list of projects has changed from the initial planning that was made in the midst of a pandemic based on the recommendations of a report by Sir Christopher Pissarides. But the government positively assesses the high absorption of resources, with the loan component already completed and the grant component heading toward full completion.
On Monday, the certification deadline for the latest investment and reform milestones expired, with the aim of absorbing all the resources to which the country is entitled by the end of the year. Greece was among the major beneficiaries of the Recovery Fund with a total allocation of €39.95 billion, approximately 16% of the gross domestic product, of which €18.22 billion are grants and €17.73 billion are loans.
In the first days of September, funds amounting to €4.6 billion from the requests submitted in May are expected to be officially approved, while the next deadline, on September 30, will concern the ninth and final request for the remaining €6.7 billion (€4.4 billion in grants and €2.3 billion in loans). If everything goes smoothly, their disbursement will take place by the end of December.
