Brussels, 3 January 2022
The EU Commission has on 29 December 2021 received the first payment request from Greece under the Recovery and Resilience Facility (RRF). Greece has sent a request to the Commission for a disbursement of €3.6 billion in financial support (net of pre-financing). Greece’s overall recovery and resilience plan will be financed by €17.77 billion in grants and €12.73 billion in loans.
Greece’s payments under the RRF are performance-based and contingent on Greece implementing the investments and reforms outlined in its recovery and resilience plan. Greece’s first payment request relates to 15 milestones covering several reforms and investments in the areas of energy efficiency, sustainable mobility, waste management and civil protection, active labour market policies, healthcare, tax administration, justice, business extroversion, and the audit and control system linked to the Recovery and Resilience Facility. Two of the milestones and targets concern the first steps of 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 (EFC). More information on the process of the payment requests under the RRF is available in this Q&A. More information on the Greek recovery and resilience plan is available here.