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Greece plans path to EU Recovery Fund

The shifting to a green economy, digital transformation, the strengthening of employment, private investments and the transformation of the economy are among the main axes of the Greek plan for the EU’s Recovery Fund, as the Deputy Minister of Finance Theodoros Skylakakis presented to a cabinet meeting today.

The shifting to a green economy, digital transformation, the strengthening of employment, private investments and the transformation of the economy are among the main axes of the Greek plan for the EU’s Recovery Fund, as the Deputy Minister of Finance Theodoros Skylakakis presented to a cabinet meeting today.

Skylakakis also outlined in detail the timetable of the Recovery Plan, the draft of which is expected to be submitted to parliament on November 15.

In particular, the key elements concern:

• The transition to a green economy. Indicative projects and programs: The energy upgrade of buildings. Interconnection of transmission and distribution networks. Dams and flood defenses. E-mobility. Solid waste and wastewater management and treatment. Spatial reform. strategic urban regeneration. Critical environmental interventions. Disaster protection.

• The digital transformation. Indicative projects and programs: Fast networks / 5G Corridors. Smart Cities. Digital transformation of public services. Digital transformation of businesses. Over-depreciation of investments for digitization.

• Employment, skills, social cohesion. Indicative projects and programs: Active employment policies. Upgrading skills and digital capabilities. Modernization and digitization of the education system. Primary Health Care Upgrade. Modernization and digitization of the health system. Rationalization and strengthening of social benefits.

• Private investment and the transformation of the economy. Indicative projects and programs: Digitization of justice procedures, Strengthening the business environment and business competitiveness. Tax simplification and digital fight against tax evasion and contribution evasion. Enhancing research and innovation. Enhancing extroversion / exports. Critical development infrastructure. Sectoral interventions (agri-food, tourism, culture).

The expected timeframe for the preparation and submission of the Recovery Plan.

1.Draft tabled: 15/11/2020

2. Public consultation: 25 / 11-31 / 12/2020.

3. Detailed evaluation of projects and programs & consultation with the European Commission: 1/11/ 2020-15 / 1/2021

4. Presentation to parliament: January 2021.

6. Submission of plan: February 2021.

The final phase of evaluation and selection of projects for the Recovery Plan. The first phase with submission of projects and reforms (initiative description, indicative budgets, targets and milestones), is almost completed with coverage exceeding 65% in terms of grants The second and final phase of the evaluation and selection of projects and programs will be based on the following features:

1. Mature, realistic schedule

2. Very strong probability of achieving quantitative targets

3. Eligibility based on national and European targets

4. Strong development and social footprint,

5. Mobilization of private resources

6. Relevance to green growth and digital transformation (achievement of the minimum required objectives for the whole plan - 37% green, 20% digital).

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