Recovery and Resilience Facility: Greece
The Greek Recovery and Resilience Plan
Greece published and put into public consultation its first draft National Recovery and Resilience Plan on 25 November 2020. In parallel, informal consultations are taking place between the EU and Greek officials.
Greece is set to receive € 16.4 billion in grants from the Recovery and Resilience Facility. In addition, it can access loans worth € 12.6 billion, on a voluntary basis. The Greek government has stated that it will maximise the use of grants, with the intention of using loans for financing high-added-value private investments.
Priority areas for reforms and investment
The draft Greek National Recovery and Resilience Plan sets out four main components for the country's strategy:
- GREEN transition
- DIGITAL transition
- EMPLOYMENT, SKILLS and SOCIAL COHESION
- PRIVATE INVESTMENT and ECONOMIC and INSTITUTIONAL transformation
Eighteen priority areas under these are identified to promote sustainable and inclusive growth, with a focus on green transition as well as digitalisation of public administration and the economy:
|Green transition||Digital transition||Employment, Skills and Social Cohesion||Private investment and Economic and Institutional transformation|
|Power up: energy infrastructure and renewables||Connect: 5G networks||Labour market||Tax administration|
|Renovate: energy efficiency of buildings||Modernise: digitalisation of public administration||Education, training and skills||Modernisation of public administration|
|Recharge and Refuel: green mobility and electromobility||Digitalisation of businesses||Healthcare||Justice|
|Sustainable use of resources, climate resilience and environmental protection||Increase access to effective social policies||Financial sector and capital markets|
|Research and Innovation|
|Modernisation of key economic sectors|
The political coordination of the National Recovery and Resilience Plan lies within the Steering Committee at the General Secretariat of the Government. The Special Coordinating Authority for the Recovery Fund within the Ministry of Finance will ensure the technical coordination of the Plan.
In a nutshell
Note: the estimated allocations are based on the draft of the National Recovery Plan and the figures can be a subject to change. The deadline for the submission of the final version of the Recovery plans is 30 April 2021.
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