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Greece

Greece’s recovery and resilience plan

legislation type Executive
Plan
Passed in 2021
To benefit from the support of the Recovery and Resilience Facility set up by the EU in the aftermath of the COVID-19-induced economic crisis, Member States submit their recovery and resilience plans to the European Commission. Each plan sets out the reforms and investments to be implemented by end-2026 and Member States can receive financing up to a previously agreed allocation. Each plan should effectively address challenges identified in the European Semester, particularly the country-specific recommendations of 2019 and 2020 adopted by the Council. It should also advance the green and digital transitions and make Member States’ economies and societies more resilient. The Commission validates the plan after which it effectively enters in force and EU subsidies can start flowing towards the member state.

The European Commission has given a positive assessment to Greece’s €30.5 billion recovery and resilience plan, consisting of €17.8 billion in grants and €12.7 billion in loans.  37.5%of the plan’s total allocation for reforms and investments supports climate objectives, including:
  • Electricity infrastructure: financing the interconnection with the Cyclades Islands, increasing the potential for renewable energy sources as well as storage capacity. €645 million
  •  Energy efficiency in residential buildings: renovating more than 100,000 residences to increase energy efficiency, including for low-income households. €1.3 billion
  •  Sustainable mobility: installing more than 8,000 charging points for electric vehicles and replacing 220 urban transport busses in Athensand Thessaloniki with electric vehicles. Creating cycling and pedestrian pathways to create an “urban promenade” along the Athens Riviera.€264 million

Documents

from the Grantham Research Institute
from the Grantham Research Institute
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