Recovery Fund: Green Light for €2.44 Billion – Greece Enters the Final Sprint

Greece is entering the astir demanding signifier of the Recovery and Resilience Fund, arsenic the European Commission has fixed the green light for the disbursement of €2.44 billion, confirming that the state has successfully completed 32 milestones and 7 targets for the sixth installment.

However, down the affirmative news, the Commission’s study includes a clear warning: clip is moving out, and immoderate hold could beryllium costly.

According to the latest figures, Greece has already absorbed €23.4 billion and completed 178 milestones, covering roughly 65% of the program—above the EU mean but beneath the frontrunners, who person exceeded 70%.

The European Commission urges Athens to accelerate efforts, arsenic each projects indispensable beryllium completed and delivered by August 2026. After that date, immoderate unfinished task risks being permanently mislaid and volition nary longer beryllium eligible for funding.

Red-Flag Projects and Delays

While the wide advancement is positive, the Commission highlights respective projects facing important delays, including:

• Hospital and Health Center renovations
• Social lodging programs
• Rail infrastructure projects
• Carbon retention and vigor projects

If these projects are not completed by summertime 2026, they whitethorn request to beryllium shifted to other backing tools, specified arsenic the EU Structural Funds (ESPA), to debar imperishable nonaccomplishment of resources.

Responses from the Ministry of Finance

Deputy Minister of Finance, Nikos Papathanasis, reassured that “health and societal lodging projects are progressing normally” with a fund of €2 billion, noting that projects facing obstacles—like the “Apollo” vigor program—will beryllium replaced by new, ready-to-implement initiatives.

By the extremity of October, Greece indispensable taxable a revised nationalist plan to the Commission for support astatine the December Ecofin, incorporating adjustments, task reprioritizations, and changes to ensure full absorption of funds.

Loans and Business Participation

Out of the full package, €5.5 billion remain successful grants, and €6 billion in loans. Loan disbursements are progressing much slowly, arsenic request from SMEs remains debased contempt efforts to simplify procedures.

So far, €10.18 billion has been disbursed retired of a total €25 billion, with another €8 cardinal planned for 2026, the milestone twelvemonth for completing the Fund.

Flagship Projects successful the “Final Sprint”

The coming months are captious for the program’s success. Key projects include:

• Renovation of 80 hospitals and upgrade of dozens of Health Centers
• Deployment of 425 electrical buses in Athens and Thessaloniki
• Completion of the E-65 motorway
• National onshore registry completion
• Seismic checks successful 21,970 nationalist buildings
• Digital upgrade of the Justice system

Each of these projects serves arsenic a “reliability test” for nationalist medication and a driver for economical acceleration.

Analysis: Race Against Time

The Greek authorities has maintained a satisfactory implementation pace. However, the past 2 years of the programme volition beryllium the most challenging, with strict deadlines, bureaucratic delays, and governmental reshuffles posing important risks.

The success oregon failure of the Recovery Fund is not lone astir Greece’s credibility successful Brussels; it besides determines whether the state can capitalize connected this unsocial accidental for transformation. With nationalist investments at historically precocious levels, due absorption of funds could found a new improvement model focused on green transition, integer economy, and societal infrastructure.

As a elder European authoritative commented:“Greece has made awesome progress; present it indispensable beryllium it tin decorativeness strong.”