Approval of RRF finance of €3.64 bln

The European Commission has preliminarily approved Greece's request for the disbursement of 3.64 billion euros under the Recovery and Resilience Facility. Of the €3.64 billion, €1.69 billion comprises grants and €1.95 billion loans.

In May, Greece submitted a payment request to the Commission for grants, based on the achievement of the 39 milestones and three targets selected. On November 22, Greece also submitted a payment request for loans concerning the achievement of one target.

The Commission said Greece had successfully implemented its 39 milestones and four targets. The milestones and targets include a series of reforms to enhance efficiency in public administration, including establishing a multi-level governance system that will streamline the allocation of responsibilities between central, regional and local authorities, and to enhance the fight against...