Recovery & Resilience Fund: Greece’s figures in top spot in terms of absorption rate

The Greek state has disbursed a total of 11.1 billion euros so far from the EU’s Recovery and Resilience Fund (RDF), within a year and a half since its national plan was approved, according to data revealed this week.

Overall, the national “Greece 2.0” plan is budgeted at 30.5 billion euros of European funding for the country, representing 16.5 percent of its GDP.

These funds already disbursed represent 6.1 percent of current GDP, making one of the highest disbursement rates among Eurozone member-states.

Croatia follows with disbursement corresponding to 3.9 percent of its GDP; Italy with 3.8 percent; Spain with 3.1 percent; Romania with 2.6 percent and Portugal with 2.4 percent.

Specifically, Greece has received pre-financing of 3.96 billion euros (August 2021) and completed 15 milestones and targets, while disbursing 3.56 billion euros (April 2022) since the first payment request.

The National Recovery and Resilience Plan consists of two parts: the grant component, with a budget of 17.8 billion euros, and the loan component, with a budget of 12.7 billion euros.