European Commission officials are expected to arrive in Athens this week to meet with officials of the Greek government on the National Recovery Plan “Greece 2.0”. Given that the Recovery Fund completes its cycle in September 2026, that is, in less than a year, and that both Athens and the Commission do not want a single euro of the money to be lost, the discussion will focus on reviewing or even replacing some milestones (reforms & investments) if it is judged that they will not be completed within the set deadlines.
The 2026 Public Investment Program is expected to play a significant role in the overall project, aiming to approach 16.7 billion euros.
7.219 billion euros concern projects and actions of the Recovery Fund, which constitute the country’s national participation for the completion of the programs and the disbursement of the last installment from the EU.
6.2 billion euros for other projects co-financed by Greece and the EU.
3.3 billion for projects that will be financed exclusively from national resources.
Because the 2025 Public Investment Program is approaching its end, the Ministry of National Economy has asked the agencies to intensify their efforts to implement at least 95% of their Program by November 30, in order to avoid the accumulation of payments in December and a possible loss of resources.
Pending the submission of the sixth request concerning the loan component, the data on the course of “absorption” of these funds by the Recovery Fund are not so encouraging. It is noted that the total budget of contracted loans is 17.14 billion euros. The percentage of funds (TAA loans, bank loans, private participation assessment) that have been channeled into the loan market is estimated at 52%, i.e. 8.9 billion euros.
Of the total of 36.6 billion euros that Greece is entitled to receive from the Recovery Fund (grants & loans), 19.74 billion euros have so far been channeled into the real economy. The goal for the loans is to sign contracts worth 14.33 billion euros by June 31, 2026.
Another issue that, according to information, will be discussed in the contacts that will take place in Athens with the representatives of the Commission is the timetable for submitting the 7th request. What will be examined is the possibility of submitting the 6th request from the loan component by the end of the year, together with the 7th request for a total amount of 3.5 billion euros (1.7 billion euros in grants and 1.8 billion euros in loans). In order to submit the 7th request, Greece will have to meet 28 milestones.
Based on the existing plan, the 8th request is planned to be submitted in February 2026, totaling 1.87 billion euros, after the completion of 30 objectives and milestones, while the 9th request is planned to be submitted in September 2026, totaling 5.4 billion euros with 136 milestones and targets.
