Greece must agree with the European Commission by the end of October on which projects and reforms, in sectors such as health, energy, social housing and railways, currently financed by the Recovery Fund, will need to be replaced with others. The reason is that many of these projects are not expected to be completed in time, and the funding risks being lost instead of being redirected to more feasible initiatives.
To accelerate procedures, a delegation of European Commission officials visited Athens in recent days and held talks with the Greek authorities about the parameters of this last opportunity to revise the Recovery Fund, Kathimerini reports.
The Recovery Fund is an EU mechanism that finances investments and reforms for sustainable growth after crises, through grants and loans.
The Commission’s message, according to the same report, is clear: all investments and reforms must be completed by the end of August 2026, and all remaining grants must be disbursed by the end of December 2026. There is no possibility of an extension. That means there is no point in keeping large, unfeasible projects in the Fund.
However, this does not mean that projects cut from the Recovery Fund will not be completed. They may be financed instead through other EU resources, such as the NSRF.
According to EU data, 37% of milestones and targets have been achieved so far. Disbursements stand at €9.94 billion in grants out of a total €18.22 billion, and €11.4 billion in loans out of €17.728 billion.
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