Recovery Fund: This is the national investment plan of 32 billion euros



The milestones and parameters of the Greek plan of 32 billion euros were presented to the cabinet by the Deputy Minister of Finance, Mr. Theodoros Skylakakis, whose draft will be submitted on November 15, while it will be put to public consultation from November 25 to December 31. According to the Minister, the detailed evaluation of the projects, programs and the consultation with the European Commission will be from 1 November to 15 January next year, while the presentation to the Parliament is expected next January, with the final submission of the draft. The government is working on drawing up the plan after setting the target for growth in 2021 at 7.5%, mainly due to investment. The financial staff estimates that next year the first amounts of the Recovery Fund will start to flow, estimated at 5.5 billion euros. The first phase, according to Mr. Skylakakis, is with the submission of projects and reforms (description of the initiative, indicative budgets, targets and milestones), which is almost complete – with a 65% overcrowding in terms of grants. The second and final phase of evaluation and selection of projects and programs will be based on the following characteristics: Maturity, realistic timeline, very strong probability of achieving quantitative targets Eligibility based on national and European targets Strong development and social footprint, mobilization of private resources. An important factor is the relevance to green growth and digital transformation (achieving the minimum required goals for the whole plan – 37% green investment, 20% digital sector). The basic elements of the Fund, according to the Deputy Minister of Finance, concern: – The transition to a green economy. Indicative projects & programs: Energy upgrading of buildings. Interconnection of transmission and distribution networks. Dams and flood defenses. E-mobility. Solid waste and wastewater management and treatment. Spatial reform. strategic urban regeneration. Critical environmental interventions. Disaster protection. – The digital transformation. Indicative projects & programs: Fast networks / 5G Corridors. Smart Cities. Digital transformation of public services. Digital transformation of businesses. Over-depreciation of investments for digitization. – Employment, skills, social cohesion. Indicative projects & programs: Active employment policies. Upgrading skills and digital capabilities. Modernization and digitization of the education system. Primary Health Care Upgrade. Modernization and digitization of the health system. Rationalization and strengthening of social benefits. – Private investment and the transformation of the economy. Indicative projects & programs: Digitization of justice procedures, Strengthening the business environment and business competitiveness. Tax simplification and digital fight against tax evasion and contribution evasion. Enhancing research and innovation. Enhancing extroversion / exports. Critical development infrastructure. Sector interventions (agri-food, tourism, culture). Follow it on Google News and be the first to know all the news. See all the latest news from Greece and the world, at



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