The government will implement a barrage of pivotal actions aimed at boosting development and leveraging Recovery Fund resources in the coming period. The goal is to fully utilize the €31.5 billion fund by 2026, combined with major private investments of €210 million being launched in Megalopolis.
Read: Hatzidakis: Progress must continue with common sense interventions and good international practices
New disbursement from the Recovery Fund
During the quarterly presentation of ongoing programs, Deputy Minister of National Economy and Finance Nikos Papathanasis announced that the 6th disbursement request of €2.1 billion from the Recovery Fund is expected to be submitted within the next 2-3 days. The 7th request is scheduled for November.
The approval of the revised plan by Ecofin on July 18 opens the path for disbursement, aiming for full utilization of the €31.5 billion resources by 2026.
“My Home II”: Over 50% implementation achieved
On the housing front, the «My Home II» program has exceeded 50% implementation, as emphasized by the deputy minister. Already €1 billion has been committed, with over 8,000 citizens having received approval for housing loans through the “My Home II” program.
Data from the “My Home II” program shows that the average income of beneficiaries amounts to €20,600, with an average age of 38 years and average property market value of €149,000.
Eastern Macedonia-Thrace leads in applications with 620 approvals, followed by Thessaly with over 600, and Western Greece in third place with over 470.
Major €210 million investments in Megalopolis
Significant investment momentum is expected in Megalopolis, where under the Just Development Transition framework, it was announced that 6 major companies are preparing to establish operations in the area. The investments in Megalopolis reach €210 million and concern data centers, battery energy storage, and organic fertilizer production sectors.
The investments in Megalopolis are expected to create quality and well-paid jobs, emphasized Mr. Papathanasis. Program actions reach €1.6 billion, while additional investment applications with a total budget exceeding €400 million have already been submitted.
New programs and investment initiatives
Additional calls are coming for projects such as industrial parks, doctoral programs, smart cities, and human resources enhancement. In the PPP sector, 10 projects with a total value of €1.4 billion are in full development, spearheaded by the tender process for the new cancer hospital in Thessaloniki.
The Public Investment Program records the highest performance in the last 15 years, with 98% absorption and exceeding the Recovery Fund target by 3% in the first half.
Developments in current ESPA and new programs
For the current ESPA, calls reached 75% of the total budget, contracts 45%, sectoral program inclusions 67%, while expenses correspond to 14% of available resources.
Special reference was made to the new “Extroversion” program starting July 17 with a €200 million budget, while TEPIH III is scheduled to open by September, enhancing SME liquidity.
Preparation for new ESPA and the future
For the new 7-year budget, the deputy minister focused on Athens’ position to maintain funding levels, as well as the EU’s position for flexibility in fund allocation. “We want the resource level to correspond to what we have received in the past, without reduction,” he emphasized.
Mr. Papathanasis also pre-announced the activation of a new National Development Program for 2026-2030, which together with new “green” programs will succeed the Recovery Fund.
For Athens, housing remains a priority, both with My Home II and any other programs that can be added in the future.
