Athens is moving forward with the revised Recovery Plan “Greece 2.0,” having replaced projects that won’t be finished by August 2026 with new initiatives focused on digitalization and transition efforts.
At the 13th Regional Development Conference, Orestis Kavalakis, Governor of the Recovery and Resilience Facility Coordination Agency, reported that Greece has achieved 113 milestones and targets, received approval for over 100 projects worth a total of €21.1 billion, and disbursed nearly €10 billion.
“The target for 2024 has been met, and we are planning to release €4.9 billion in 2025,” he stated, emphasizing that while the goal is ambitious, a rapid increase in spending is anticipated, with 35 loan agreements for projects totaling €35 billion. Additionally, €15.6 billion has already been integrated into the real economy.
Next Steps
Once the revised plan is approved in June, Greece intends to submit its sixth request to the Commission for a total disbursement of €3.9 billion. The next phase will occur in November, when the seventh request for another tranche of €3.5 billion is scheduled for submission.
“Greece Among the Top 10 for Disbursements”
At the same conference, Luc Tholoniat, Director of the European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN), noted that Greece ranks among the top 10 countries for disbursements. He also highlighted upcoming challenges for European nations, including overcoming bureaucratic hurdles, strengthening the institutional framework, and continuing necessary reforms and investments.
The revision of “Greece 2.0” was essential to ensure that not a single euro of the €9.6 billion allocated for grants from the Recovery Fund is lost before its completion in the summer of 2026.
The list of excluded projects has been finalized. Certain flood control initiatives, which won’t be finished by August 2026, have been reassigned to the NSRF. Meanwhile, “Greece 2.0” now includes reforms that emphasize digital transformation, such as a project for a satellite system designed to monitor unauthorized construction. This initiative aims to utilize satellites and drones for ongoing oversight of construction activity across the country. A dedicated digital platform will employ Artificial Intelligence to identify unauthorized structures.
