Greece has tapped 15 bln euros from EU’s Recovery Fund, minister says

Greece has received nearly 15 billion euros ($16 billion) in grants and loans from the European Union's Recovery Fund since 2021, a sum which is equivalent to about 8% of its economic output, the government said on Monday.

After years of underinvestment due to a 2010-2018 financial crisis and the Covid-19 pandemic, Greece has improved its uptake of European funds, tackling bureaucracy and helping its economy grow faster.

Greece is eligible for a total of 36 billion euros in grants and loans from the post-pandemic fund until 2027 and the resources were expected to leverage total investment of 60 billion euros in medium-sized companies, green energy, digitisation and infrastructure.

Athens will put in requests to receive another 3.6 billion euros from the Recovery Fund by September, which would help the country achieve its target for economic growth of 2.9% this...