The Peloponnese Region is set to develop Greece’s largest certified hiking trail network, spanning 1,729 kilometers. Supported by €2.95 million from the Recovery and Resilience Facility, the project includes trail upgrades, signage installation, and digital enhancements, aiming to boost sustainable tourism and highlight the region’s natural and cultural heritage.
Tag: Recovery and Resilience Facility
The Parnassos Ski Centre, a premier winter destination near Delphi, is set for a major transformation with €8.7 million in funding from the Recovery and Resilience Facility. Announced by Tourism Minister Olga Kefalogianni, the upgrades aim to modernise infrastructure, enhance visitor services, and promote year-round tourism. With record-breaking attendance and plans for environmentally friendly lift replacements, the project highlights Greece's commitment to sustainable mountain tourism.
Fraport Greece reported a 6.4% increase in passenger traffic for the first 11 months of 2024, reaching 35.22 million passengers. November saw an 11.6% rise in traffic compared to 2023, driven by an extended tourist season and a surge in international arrivals. The company plans to invest approximately €150 million in airport upgrades, including infrastructure improvements at popular destinations like Santorini, Mykonos, and Corfu. Fraport Greece continues to enhance its network to support the growing demand and strengthen Greece's aviation sector.
The European Commission has approved €150 million in funding to support a carbon storage facility in Prinos, Greece, marking a significant step toward Greece's climate goals and the EU’s Green Deal objectives. Led by EnEarth Ltd., the project will capture and store up to 1 million tonnes of CO₂ annually in its first phase, with plans to expand to 2.5 million tonnes. The facility, partially funded through the EU’s Recovery and Resilience Facility, is set to begin operations in 2027.
The European Commission has disbursed €998.6 million in grants to Greece under the Recovery and Resilience Facility (RRF). This fourth payment is based on Greece’s progress in implementing reforms and investments, including improvements to the justice system's digital infrastructure, boosting renewable energy production, and enhancing fire prevention and reforestation efforts. The total value of Greece’s recovery plan amounts to €35.9 billion in grants and loans.
Greece reported a primary surplus of €8.74 billion for January to September 2024, significantly exceeding the government's target of €5.3 billion. Driven by higher tax revenues and controlled spending, this marks a strong fiscal performance compared to the same period last year. The Ministry of Economy and Finance highlighted that tax revenues exceeded projections by €2.6 billion, while overall expenditures remained below target, contributing to the surplus.
The European Commission has approved Greece’s fourth payment request of nearly €1 billion under the Recovery and Resilience Facility, following a positive preliminary assessment. The funding will support key projects, including reforestation efforts, energy security improvements, and upgrades to the Greek justice system. The Commission’s assessment will now be reviewed by the Economic and Financial Committee before the final payment decision is made.
SYRIZA leader Stefanos Kasselakis criticised the Greek government for using only 1% of the 550 million euros allocated from the Recovery and Resilience Fund for fire safety, accusing them of inefficiency. The government dismissed his claims, emphasizing their efforts to strengthen civil protection and firefighting capabilities amidst rising climate challenges.
In a significant development for Greece’s economic recovery, the European Commission has approved the disbursement…
Greece has exceeded expectations with a €2.9 billion primary budget surplus for the first half of 2024. The figure surpasses both the initial target and last year's performance, signaling a positive trend in the country's financial health.
Greece has requested the fourth disbursement of 1 billion euros in RRF grants from the European Commission, following an earlier 2.3 billion euro loan request. The funds, linked to 20 milestones and targets, bring the total expected disbursements to 3.3 billion euros. Additionally, Greece has submitted a request for technical modifications to the "Greece 2.0" National Plan.
Economic analysts foresee a promising trajectory for Greece's growth as recent developments in the European…
Greece 2.0 is becoming a game-changing reality as inflows into the Greek economy from the…