One in Four Greek Recovery Fund Loans May Go Unused
Roughly a quarter of Greece's Recovery and Resilience Fund loans may go unused - a shortfall that could cost the country about €4 billion in low-interest financing from the European Union With less than a year before the program officially ends, Athens is under growing pressure to accelerate project implementation or risk forfeiting part of what has been one of the largest financial support packages in its modern history. Greece secured €36 billion in total funding through the EU Recovery and Resilience Facility - an amount equal to 16.3 percent of its 2023 GDP - including €15.5 billion in loans intended to spur private investment in high-value projects. Yet, according to current estimates, as much as 25 percent of those loans will remain unabsorbed by the August 2026 deadline. The loans were meant to be a key growth driver, leveraging additional financing from commercial banks, the European Investment Bank, and the European Bank for...
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