Greece to submit request for subsidy from the Recovery Fund in May

Greece plans to submit its request for subsidies from the Recovery Fund to the European Commission in May, announced Alternate Minister of National Economy and Finance Nikos Papathanasis on Thursday.

He indicated that the country anticipates submitting its fifth request for loans and subsidies by the end of September or early October, aiming to bolster entrepreneurship.

Papathanasis highlighted that Greece is poised to embark on its most extensive Public Investment Program (PIP) in 14 years, amounting to 12.2 billion euros in conjunction with the two National Strategic Reference Frameworks (NSRFs) and the Recovery Fund. He projected that over 65% of growth would be driven by these initiatives.

Regarding investment value and progress, Papathanasis forecasted a surge in investment growth in 2024, attributing it to project maturation. Notably, he stated that 45% of contracted loans are slated for disbursement this year. 

[AMNA]