Greece is entering the final stretch of its Recovery Fund programme, with the government required to complete another 123 milestones before its final payment request, worth €6.7 billion, can be approved. The request is scheduled to be submitted by the end of September, according to a report by Kathimerini.
Among the most difficult outstanding commitments are major construction projects, including the Northern Road Axis of Crete (BOAK), the restoration of infrastructure damaged by Storm Daniel, works at the Athens Olympic Sports Complex (OAKA), and building projects for research centres.
The Recovery Fund is an EU mechanism providing loans and grants, worth €577 billion, which was created in response to the pandemic.
To date, Greece has received €24.63 billion of the €35.95 billion allocated to the country through the Fund in grants and loans. Before the final request is submitted, another tranche of around €4.6 billion is expected to be approved in early September. The final disbursement, provided all conditions are met, is expected by the end of 2026.
As the programme approaches its conclusion, the debate is now shifting from the absorption of funds to their actual economic impact. Economists have expressed doubts over whether the investments have made a meaningful contribution to higher productivity and to transforming Greece’s economic model, while PASOK has criticised the successive revisions to the plan, pointing to problems in both its original design and its implementation.
Source: Κathimerini
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