In additional grants of €769.2 million and loans of around €5 billion from Recovery Fundin its context REPOWEREU, the government is looking forward to the near future in view of the renewal national recovery and resilience plans.

V Ministry of Finance are already working on this review and are preparing projects that can be funded under REPowerEU, as the relevant regulation is expected to be implemented at the end of February. The plan of the Ministry of Finance provides that the revision proposal will be submitted by the next government to be formed after the elections, given that there will be relative flexibility in the proposal Commission Proposals must be submitted by the end of April.

Funds 225 billion

The subsidies to be provided by REPowerEU have been agreed, although there is still relative uncertainty about the loans as they will come from a pool of unused Recovery Fund loans of 225 billion euros, which, however, may be of interest to beneficiaries in the near future. While this is considered rather unlikely for countries such as Germany and France, which borrow in the market at lower interest rates than the Recovery Fund, one can claim, for example, Spain is entitled to 90 billion euros or part of it, since, according to competent sources, she may have little interest in the cost of the loan. In this case, the pool of 225 billion euros will be reduced. The deadline for expressing interest in unallocated loans is July 2023, but the Commission has urged Member States to do so by the end of April. In any case, the Greek side intends, according to competent sources, to demand loans in the amount of 5 billion euros, which the Commission reportedly considers positively, although without incurring any obligations.

Our country has some of the best performance in the EU. during projects.

Energy projects

REPowerEU will become the new head of the national plan, through which energy transition projects will be financed in the main. At the same time, the national plan will be comprehensively updated so that it has the prospect of being completed on time, i.e. by mid-2026. Otherwise, resources will be wasted. It was this concern that prompted Italy yesterday to apply for a one-year extension of the Fund.

As part of the review, some milestones will be moved or removed, and some investments will be removed and replaced with others that are more mature. Among other things, according to the information, the Ministry of Digital Management plans to withdraw from the plan the 5G corridors that are delayed due to the fault of the concessionaires, as well as due to the lack of progress of the neighboring countries’ related projects, and in its place to join new digital projects.

REPowerEU’s €796.2 million is more than covers a €339 million reduction in Recovery Fund grants last year due to faster growth. The plan currently has a total budget of 31.16 billion euros.

Until now, Greece as a whole has been one of the best in the EU. regarding the progress of the implementation of the projects of the Recovery Fund. It raised 11 billion euros, ranking first in payments as a percentage of GDP (6%, see table). It is the third country to receive the second tranche in January and the first to receive funding under the third payment request (€1.8 billion in loans collected with the second tranche). In general, the lending industry is developing satisfactorily as it maintains a very low lending rate (0.35% for very small and small and 1% for medium and large), for this reason it will require a new loan fund as part of the review. .