Finance
Greece has tapped 18 billion euros from EU's Recovery Fund
Published by Global Banking & Finance Review®
Posted on January 16, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 16, 2025
2 min readLast updated: January 27, 2026
Greece has secured €18 billion from the EU Recovery Fund, boosting its economy and aiming for 2.3% growth. The funds focus on investment in green energy and infrastructure.
ATHENS (Reuters) - Greece has received 18 billion euros ($18.5 billion) in grants and loans from the European Union's Recovery Fund since 2021, equivalent to about 8% of its economic output, the government said on Thursday.
After years of under-investment due to a 2010-2018 financial crisis, 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 more than 60 billion euros in medium-sized companies, green energy, digitisation and infrastructure.
Athens will put in a request to receive another 3.9 billion euros from the Recovery Fund by May, which would help the country achieve its target for economic growth of 2.3% this year, up from 2.2% in 2024, deputy Finance Minister Nikos Papathanasis said during a press conference.
"Our economy once again recorded growth rates much higher than the European average, continuing to be among the top in the EU in terms of absorption of resources from the Recovery Fund," Papathanasis said.
Greek public investment - which draws funding mainly from the EU, including the Recovery Fund, as well as from the state budget - will come in at 14.1 billion euros this year and reach 16.4 billion euros in 2026, according to finance ministry data.
($1 = 0.9734 euros)
(Reporting by Lefteris Papadimas; Editing by Mark Potter)
The article discusses Greece receiving €18 billion from the EU Recovery Fund to boost its economy and investment.
Greece is eligible for a total of €36 billion in grants and loans from the EU Recovery Fund until 2027.
The funds are aimed at medium-sized companies, green energy, digitisation, and infrastructure.
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