The proposal for the revision of the National Recovery and Resiliency Plan “Greece 2.0” was submitted to the European Commission on Thursday including the new package of investments and reforms under REPowerEU with European funding of 795 million euros, aimed at Europe’s energy autonomy and the request for additional loans of 5 billion euros, which will be added to the existing loan program of the Fund Recovery.
Following the approval of the revised plan, the resources of the Recovery Fund for Greece will increase by 5.8 billion euros, bringing the total budget of “Greece 2.0” to 36 billion euros.
The revised Recovery and Resilience Plan through REPowerEU financially supports energy efficiency actions for households, businesses and the state and energy storage systems from RES. It paves the way for biomethane and green hydrogen production and CO2 capture and storage technology through pilot projects and reforms shaping the licensing and operating framework. The reforms of REPowerEU also include the optimization of land uses for the development of RES, the increase of grid capacity and energy storage to promote related investments, etc.
The request for additional loans of 5 billion euros directed to the private economy responds to the high demand presented by the loan program of the Recovery Fund, to which 500 investment projects totaling 18.1 billion euros have already been submitted, with 60% coming from small and medium-sized enterprises, thus expanding the possibilities and scope of investment financing.
In the revised “Greece 2.0” emphasis is placed on the prevention of natural disasters. The forest clearing program and the opening of forest roads and anti-nero zones are significantly expanded, a pre-earthquake control program is added to public buildings and the Smart Bridges action is expanded. In addition, an important housing policy tool is being created with the housing program for young people and couples aged 18-39.
