Athens welcomes volume, form of Commission's pandemic recovery plan

Economy Tags: Covid, EC

There was a pleasant surprise for Greece on Wednesday when the European Commission announced its proposal for a Recovery and Resilience Facility (RRF) of 750 billion euros, which will be attached to the 1.1 trillion euros multi-year fiscal framework of 2021-2027.

The Fund will consist of 500 billion euros in grants and 250 billion euros in loans, with the financing raised by the Commission in financial markets by increasing the ceiling of funds that the EU can request from member states by 0.6 percentage points.

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