September 30, 2023

Athens News

News in English from Greece

Von der Leyen: Greece’s recovery plan “transforms the economy”

Greece’s National Recovery Plan “will transform the economy” and “prepare the country for the future,” European Commission President Ursula von der Leyen said in Athens on Thursday, her next stop on her tour of EU member states to present the approved national measures plans to restore the economy after the pandemic.

“Today I am honored to announce that the European Commission has given the green light to the Greek National Reconstruction Plan, a plan that belongs to the Greek people and that will reshape the Greek economy,” von der Leyen said in a speech at the Ancient Agora, standing next to Prime Minister Kyriakos Mitsotakis and presenting the Greece 2.0 recovery and resilience plan.

With its implementation, Greece will carry out structural reforms and “come out stronger than ever” and “more prepared for the future,” she continued, describing the plan as “ambitious and long-term.”

Von der Leyen said NextGenerationEU is “the largest since the Marshall Plan,” adding that the EU and member states have a lot of “hard work” to do to implement their national plans.

At the same event, Mitsotakis welcomed the EU-backed plan, stating that it “will be the last act of turmoil caused by the pandemic and the first act of a new era.”

“This program extends to every corner of our country, affecting all Greeks. She creates a complete plan. It also corresponds to the symbolism of “Greece 2.0” – this is the next version of the country. This is the image of a new Greece, ”he said at the presentation.

Mitsotakis said Greece is considered one of the countries that benefit greatly from the Recovery Fund, as it is eligible for funds of 31 billion euros, and was one of the first to present a national plan that includes 175 investment projects and reforms.

Funds from NextGenerationEU will go towards green and digital transition, employment, skills development and social cohesion, and finally, private investment and institutional transformation, he said.

After the commission gives a positive recommendation on the Greek plan, the EU Council will have four weeks to accept its positive assessment. Its approval will allow Greece to pay 4 billion euros in pre-financing measures, which is 13% of the total allocated to Greece.

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