Another important step for its implementation and monitoring National Plan for Recovery and Sustainability «Greece 2.0“, Amounting to 30.5 billion euros, was made with the signing of the relevant agreement between the Greek government and the Commission.
The agreement, signed by the Commissioner for Economic Affairs Mr. Paolo Gentiloni and the Deputy Minister of Finance and responsible for “Greece 2.0” Mr. Theodoros Skylakakis, defines in detail the steps of monitoring the implementation of the projects and reforms included in the Plan.
Specifically, the agreement specifies the arrangements and the monitoring and implementation schedule, the indicators of fulfillment of the foreseen milestones and objectives, the arrangements for giving the Commission full access to the relevant documentation data, and, where appropriate, additional landmarks and targets related to the repayment of the loan.
As the Ministry of Finance notes in its announcement “Whereas the noticeable difference between the Recovery Fund and the other financial instruments of the European Union is that disbursements to the Member States are made on the basis of the fulfillment of milestones and targets, not expenditure; The agreement on business arrangements is an important development for our country on the path to the efficient use of the resources of the Recovery Fund».
The 400-page Business Agreement has been negotiated for many months, and is now the pending step for submitting an application for the 1st package of installments (loan and subsidy worth about 4 billion euros) which, according to Mr. Skylakakis, is scheduled to be submitted on December 29. At present, the request has been submitted by Spain, which received the first package of installments yesterday, after signing its own Operational Agreement with the Commission.
The agreement stipulates that four times a year, with a specific deadline, Athens will send a progress report to Brussels., while also consulting 4 times a year with the Commission on the progress of the reform and investment plan. The 2 annexes of the agreement specify the way in which the certification will be done that the agreed in each field have been completed through approximately 330 milestones and goals that were decided in July.
Edited by: Costas Tsavalos