The first instalment of the EU recovery fund has been received by Greece

ATHENS, April 8 (Xinhua) — ATHENS, Greece (Xinhua) — On Friday, Greece got the first payment from the European Union’s Recovery and Resilience Fund (RRF), which was established to aid member nations’ economies in the aftermath of the pandemic.

Valdis Dombrovskis, the European Commission’s executive vice president and trade commissioner, congratulated Greece on meeting the first set of milestones and receiving 3.6 billion euros (3.91 billion dollars) as a disbursement under the RRF during a teleconference with Greek Prime Minister Kyriakos Mitsotakis.

“Today’s payment will enable Greece to continue large-scale investments and reforms. According to Greek state television ERT, “they will assist to create thousands of employment, more sustainable growth, and higher economic production.”

According to the Greek leader, a substantial portion of the funding will go to projects that promote Greece’s green and digital transformations.

The consequences of the Ukraine situation, such as the quick rise in worldwide energy costs and the inflationary pressure that threatens the recovery of the entire European economy, were also discussed, according to Mitsotakis.

He stated that actions to help European economies must be taken at the next EU meeting. 1 euro equals 1.09 US dollars.