ATHENS, Greece (AP) — Greece has acquired a 3.6 billion euro ($3.9 billion) cost out of its allotted 30.5 billion from the European Union’s pandemic restoration fund.
The announcement was made Friday by Valdis Dombrovskis, the European Fee’s govt vp, through video hyperlink with Greek Prime Minister Kyriakos Mitsotakis. Dombrovskis, visiting Athens, held on-line conferences with Greek officers after testing optimistic for COVID-19, an EU official mentioned.
The European restoration and resilience fund offers important reduction for Greece, which had barely emerged from a deep, decadelong monetary disaster when the coronavirus pandemic hit. It offers 12.7 billion euros in loans and 17.8 billion euros in grants by means of 2026.
“The ongoing war in Ukraine has proven how rapidly occasions can flip and that we at the moment are discovering ourselves in a special geopolitical actuality,” Dombrovskis advised Mitsotakis within the livestreamed video name. “It not solely illustrates the necessity of remaining united within the face of Russian brutality but in addition of sticking to our insurance policies to construct up financial and social resilience.”
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The fund “will assist Europe to remain robust in dangerous instances in addition to in good instances and to construct for a future collectively,” he mentioned.
The plan Greece put ahead to qualify for the funds facilities on environmental and digital reform, employment and personal funding.
“We’ll make good use of those funds, and we’ll keep on monitor,” Mitsotakis mentioned, including that “this authorities is dedicated to reforms.”
Dombrovskis famous Greece had already “made some main investments” and was additionally working towards diversifying its vitality provides to scale back its dependence on Russia.
This story has been corrected to indicate that Dombrovskis is in Athens however his conferences had been canceled after testing optimistic for COVID-19, not that his journey was canceled.
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