Greece's recovery and resilience plan is worth 35.95 billion euros in grants and loans

Background

Greece's recovery and resilience plan under the European Union's NextGenerationEU instrument is worth 35.95 billion euros in total. It is made up of 18.22 billion euros in grants and 17.73 billion euros in loans. The plan is financed through the Recovery and Resilience Facility, under which payments are released only when a member state meets agreed milestones and targets. Greece's seventh payment request brought it 1.18 billion euros in grants and loans, on the completion of 53 per cent of all the milestones and targets in its plan. With that payment Greece had received 24.6 billion euros, or 68.5 per cent of its allocation.