The government is introducing a new team within the Special Coordination Service for the Recovery Fund to better monitor the “Greece 2.0” program. This is a decision of the Deputy Minister of National Economy and Finance, Nikos Papathanasis, in order to achieve better coordination.
This new Task Force is expected to meet every week and will proceed with the mapping of all the included and pending projects in the Recovery Fund. According to the specific decision, the work concerns in particular the examination of the 750 integrated projects and all their sub-projects, in order to accurately capture the concrete ones that contribute to the achievement of each milestone and target, as well as the intermediate monitoring steps.
The money from the Recovery Fund
The reason has to do with the best possible monitoring of the achievement of the specific projects required for the submission of payment requests, as a necessary condition for all the money to come from the Recovery Fund.
The next big step for the ministry is the timely submission of the request for the fifth tranche which is planned to be submitted to Brussels within October. In order to do this, our country must have met two objectives of the program regarding the Recovery Fund. The first has to do with the digitization of the State records by at least 30% and the second with the completion of the public posting of 85% of the property rights in the Land Registry.
From here on, for the fifth installment, 27 milestones should be completed, including from contract assignments to specific actions for the further digitization of public administration and justice.
Regarding the path of implementation of the Recovery Fund, during the last meeting of Ecofin in mid-July, it was recorded that Greece has already collected 14.9 billion euros (7.6 billion subsidies and 7.3 billion loans) holding a stable from the first places in the EU in terms of absorptions.
The 29 milestones until October
A few days later, Mr. Papathanasis stated that the expected disbursements together with the completion of the fourth installment of the grant request will exceed 50% of the total value of the amount Greece is entitled to. In the loan part of the Recovery Fund which according to a latest study by the European Commission seems to add about 5% to the GDP from 2022 to 2030, as pointed out by Mr. Papathanasis, Greece has a disbursement rate of contracted loans at 35% with a total loan budget of 12 billion euros, of which 5.17 billion euros are covered by the Fund. As he explained, Greece will request 1.3 billion grants and 2.3 billion loans, noting that after the payment of the fifth request, the total disbursements of our country from the Recovery Fund will immediately rise to 18.2 billion. euro.
In addition, the deputy minister said that the fifth payment request will be made in October, for which there are a total of 29 milestones.
However, it should be noted that according to the data of the Bank of Greece, the total absorption of the Fund’s resources, in the sense of the inflow of funds into the country, amounted to 42% for grants and 41% for loans, but the course execution of its programs as funds are blocked by bureaucratic dysfunctions and more effort is required to reach businesses.
Source: OT.GR
#Recovery #Fund #Task #Force #meet #targets #milestones #October
