Greece faces a tight race to fully absorb funds from the EU’s Recovery and Resilience Facility (RRF), with the final deadline for meeting all milestones and targets set for August 2026. The government is under pressure to speed up project implementation to prevent any loss of financing.
A new revision of Greece’s recovery plan is scheduled for October, just months after the last major adjustment in June, which had already amended 108 milestones. The European Commission is pushing member states to maximize fund absorption before the program expires.
Where Greece Stands
So far, Greece has received €10.2 billion in payments—around 41% of the €25 billion allocated for approved projects. By the end of the program, total absorbed resources are expected to reach €14.7 billion in grants.
According to a recent European Parliament report:
- Greece ranks first among EU member states in recovery funds secured as a percentage of GDP (16.3% of 2023 GDP, or €36 billion).
- It also leads in disbursed funds relative to GDP, at 9.7% of 2023 GDP (€21.3 billion).
- In terms of disbursements relative to its plan’s total budget, Greece stands sixth in the EU, with 59% absorbed so far.
- With 139 completed milestones, Greece has achieved 35% of its commitments, surpassing the EU average of 32%.
The European Commission’s latest review confirms that implementation is progressing steadily, with roughly 60% of the program’s resources already delivered to Greece as revenue. Nearly half of the total allocation—about €17 billion—has been directed into the economy through payments and loan agreements.
Upcoming Payments
- Sixth tranche: Greece requested €2.1 billion in grants on July 18, along with €1.8 billion in loans, scheduled for disbursement in September.
- Seventh tranche: Expected by the end of 2026, totaling €3.5 billion (€1.7 billion in grants, €1.8 billion in loans).
- Eighth tranche: Planned for early 2026, worth €1.87 billion (€1.5 billion in grants and €370 million in loans).
- Ninth and final tranche: Due by August 2026, amounting to €5.4 billion (€3 billion in grants, €2.4 billion in loans).
The Stakes
For Athens, the challenge is ensuring that grants are quickly turned into actual project spending. With billions still at stake and multiple reviews ahead, the pace of implementation will determine whether Greece can capitalize fully on the EU’s post-pandemic recovery mechanism.
