Greece, EU sign funding agreement for “Greece 2.0” plan

Greece and the European Commission on Friday signed the funding agreement covering financial support worth 17.8 billion euros requested by Greece in the framework of its “Greece 2.0” National Recovery and Resilience Plan.

The agreement covers the first 13.5 billion euros, while in the next few days completion of the procedure to sign the contract loans is expected, covering loans worth 12.7 billion euros. The agreement was signed in Brussels by Finance Minister Christos Staikouras and EU Commissioner Paolo Gentiloni.

The “Greece 2.0” plan envisages the creation of 180,000-200,000 job positions through 106 investment plans and 68 reforms distributed in four pylons: Green, Digital, Employment, Private investments.

The plan uses European funds of 31.16 billion euros (18.43 billion in support and 12.73 billion in loans) to mobilize a total of 60 billion euros in investments in the next five years.

Commenting on the plan, Alternate Finance Minister Theodoros Skylakakis said: “The signing of the agreement paves the way for Greece to implement the “Greece 2.0″ National Plan which will attract huge European resources (30.5 billion euros) and to mobilise 60 billion euros in investment resources to the benefit of all Greeks. The investments and reforms included in the plan will lead the country, society, institutions and economy into a new era.”