x

Politics

Greece Gets 3.6 Billion Euros from European Recovery Fund

ATHENS — Greece has received a 3.6 billion euro ($3.9 billion) payment out of its allotted 30.5 billion from the European Union’s pandemic recovery fund.

The announcement was made Friday by Valdis Dombrovskis, the European Commission’s executive vice president, via video link with Greek Prime Minister Kyriakos Mitsotakis. Dombrovskis had been scheduled to visit Athens, but his trip was canceled after he tested positive for COVID-19.

The European recovery and resilience fund provides vital relief for Greece, which had barely emerged from a deep, decadelong financial crisis when the coronavirus pandemic hit. It provides 12.7 billion euros in loans and 17.8 billion euros in grants through 2026.

“The ongoing war in Ukraine has shown how quickly events can turn and that we are now finding ourselves in a different geopolitical reality,” Dombrovskis told Mitsotakis in the livestreamed video call. “It not only illustrates the need of remaining united in the face of Russian brutality but also of sticking to our policies to build up economic and social resilience.”

The fund “will help Europe to stay strong in bad times as well as in good times and to build for a future together,” he said.

The plan Greece put forward to qualify for the funds centers on environmental and digital reform, employment and private investment.

“We will make good use of these funds, and we will stay on track,” Mitsotakis said, adding that “this government is committed to reforms.”

On his part, Dombrovskis congratulated Greece and the team that prepared its plan.

“Greece is ready to create a strong economy and to pass to a greener and more innovative economy. The package that will be given to Greece is one the largest being given to EU member-states,” he said, noting that it contributes to growth and energy independence.

“In this way, bills for households and enterprise in Greece will become lower. Reforms will be supported so that Greece becomes more competitive,” Dombrovskis concluded.

RELATED

ATHENS - Greece confirmed 3,190 new coronavirus infections in the last 24 hours, the National Public Health Organization (EODY) said on Saturday, bringing all confirmed infections since the pandemic began to 3,442,963 (daily change: +0.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mission…To The Holy Land – A TNH Documentary by Clelia Charissis

This past Easter season, this great feast, Pascha for Greek Orthodox Christianity and Passover for Judaism, found us during Holy Week in the Holy Land, at the Gate of Worship.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.