Disclaimer: This page exclusively serves information purposes and is not an exhaustive database of projects funded by the Recovery and Resilience Facility. Notably, the map provides a snapshot of projects based on the current status of their implementation. It does not reflect the distribution of the projects funded by the Recovery and Resilience Facility across the different areas within Greece. The map will be regularly updated to include additional projects and information. The showcase of the projects in this page is without prejudice to any future assessment by the Commission in the context of the verification of the satisfactory fulfilment of milestones and targets pursuant to Regulation (EU) 2021/241 of the European Parliament and of the Council establishing the Recovery and Resilience Facility.
The measure references mentioned below are those contained in the Annex to the Council Implementing Decision approving the Greek Recovery and Resilience Plan and allow for easy identification of the measures.
For more info on the projects, please contact the ESOs Christos GOFAS (Christos [dot] GOFAS
ec [dot] europa [dot] eu (Christos[dot]GOFAS[at]ec[dot]europa[dot]eu)), Vasilis NIKITAS (Vasilis [dot] NIKITASec [dot] europa [dot] eu (Vasilis[dot]NIKITAS[at]ec[dot]europa[dot]eu)) and Irene VLACHAKI (Irene [dot] VLACHAKIec [dot] europa [dot] eu (Irene[dot]VLACHAKI[at]ec[dot]europa[dot]eu)) or the Commission's representation: Anna DANTI (Anna [dot] Dantiec [dot] europa [dot] eu (Anna[dot]Danti[at]ec[dot]europa[dot]eu)).
Electricity interconnection of islands - Naxos - Thira cable connection
(reference C1.1, Measure ID 16870 in the Greek Recovery and Resilience Plan)
The investment is part of a set of actions to expand electricity interconnections for the Cyclades Islands. The project will boost the islands’ energy system security, while also increasing the potential for electricity generation from Renewable Energy Sources (RES). It will help to reduce energy costs, lead to new investments and jobs in the energy-intensive sectors of the economy.
Greece has several 'island complexes' which remain isolated from the mainland system, rely on local, inefficient oil-driven power generation, while their RES potential remains unexploited. To address this, the Greek Recovery and Resilience Plan is financing the installation of subsea and land cables of 150 kV for the interconnection of Santorini with the national grid. In addition, on the island of Naxos a 150 kV high-voltage underwater cable with fibre optic incorporation of a total length of 82.5 km was already installed with a maximum depth of 435 meters.
The implementation of the investment is enacted by the Independent Power Transmission Operator (IPTO), who is the operator of the Hellenic Electricity Transmission System (HETS). The investment is expected to be completed by Q2 2025.
More information can be found on the project webpage here (in Greek)
Link to TV spot 'Projects of Greece 2.0 || Electric Interconnection of Naxos - Santorini' here (on YouTube) (in Greek)
Personal assistance pilot programme
(reference C3.4, Measure ID 16904 in the Greek Recovery and Resilience Plan)
The measure introduces a new innovative scheme to support persons with disabilities, including autism, through the appointment of personal assistants who assist persons in their daily life. In its first pilot phase that is already running, the support is provided for two years to 2,000 persons with disabilities in the Attica region and the selection of beneficiaries is based on both medical and functional criteria, namely a new disability assessment approach for Greece that is in line with EU and international best practices. The 'Personal assistance' pilot programme can support independent living and is encompassed in the National Strategy for Deinstitutionalisation. In 2023, the pilot scheme will also apply to other geographical regions of Greece before it can be rolled out at nationwide level in 2024.
More information can be found on the project webpage here and on Facebook here (in Greek)
Link to TV spot 'Personal assistant for people with disabilities' here (on YouTube) (in Greek)
Central Greece Highway E-65
(reference C4.6, Measure ID 16628 in the Greek Recovery and Resilience Plan)
The construction of the northern section of the E65 Motorway, specifically the Trikala – Egnatia section is a major project that will improve the connectivity between Greece, North Macedonia and Albania thus supporting the expansion, modernisation and diversification of the economic activities in the region.
The E65 motorway is a modern two-lane motorway in each direction and crosses the Greek regions of Fthiotida and Thessaly, the Othrys mountain, Pinios river passing near the city of Karditsa, Trikala, Kalampaka to be eventually connected with Egnatia Odos in the forest area of Pindos. The design is based on national and European standards, with respect to the natural and human environment, aiming at safety and ease of users and at ensuring maximum time gain and fuel saving. It is worth mentioning that, upon completion of the construction works, the journey from Lamia to Egnatia will take 1 hour and 30 minutes instead of 2 hours and 30 minutes today. The construction is underway, and the motorway is expected to be completed by June 2025.
More information can be found on the project webpage here (in Greek)
Link to TV spot 'Central Greece highway – E65' here (on YouTube) (in Greek)
Loan Facility
(reference 4.6, Measure ID 16980 in the Greek Recovery and Resilience Plan)
The Loan Facility is the largest measure in the Greek Recovery and Resilience Plan, and its objective is to facilitate private sector financing and supporting private investment. This is particularly important in Greece where corporate rates remain above the euro area average, and the Loan Facility can constitute a buffer against the negative impact of high market interest rates.
Projects that are being financed concern green transition, digitalization, increasing export capacity, economies of scale through mergers and acquisitions, and innovation (R&D).
The scheme includes three distribution channels:
- On-lending through the European Investment Bank, European Bank for Rural Development, and commercial banks;
- Equity support to mid-caps and SMEs;
- Additional funds for the InvestEU Member State compartment.
The Loan Facility provides for strict requirements and well-established safeguards, which concern investment participation (maximum 50% Recovery and Resilience Facility; minimum 30% co-financing loans; minimum 20% investors’ own contribution), financial viability (positive net present value projects), and compliance with the Do-No-Significant-Harm principle and State-aid rules. The Loan Facility also provides for commitments for financial institutions and InvestEU to invest at least 38.5% of the funds on green transition and 20.8% on digital transition.
Examples of projects financed as of December 2022 and currently under implementation include:
- Introducing fibre-to-the-home and developing the broadband network infrastructure;
- Purchasing of electric and plug-in hybrid vehicles for clean urban transport;
- The construction of an industrial complex to produce medical products and for the research and development of new pharmaceutical products.
Examples of approved investments to benefit from the Loan Facility are the following:
- Athanasios Hatzopoulos Packaging Materials Industry in Thessaloniki. The investment consists of upgrading the infrastructure through the replacement of old machinery, and supporting R&D on circular economy with the aim of creating a complete recyclable product portfolio. The overall investment is EUR 12.5 million, of which the Recovery and Resilience Facility covers 50%.
- Systems Sunlight Group in Komotini. The investment consists of the expansion and modernisation of existing production capacity through, inter alia, the construction of new energy-efficient buildings and the addition of modern mechanical equipment. The overall investment is EUR 175 million, EUR 87.5 million (50%) of which financed by the Recovery and Resilience Facility.
- Kafkas anonymous company trading in electronic equipment - luminaires in Aspropirgos. The investment consists of the expansion and modernization of existing production capacity through, inter alia, the construction of new energy-efficient buildings and the addition of modern mechanical equipment. The overall investment is EUR 12.57 million, EUR 5.02 million (40%) of which financed by the Recovery and Resilience Facility.
- Spyridakos Group I.K.E in Serifos (island in the south Aegean Sea). The investment consists of the energy upgrading of the existing hotel and equipment. The overall investment is EUR 1.12 million, EUR 0.5 (45%) of which financed by the Recovery and Resilience Facility.
- Cretan Investment Group Hellas in Crete. The investment consists of the renovation and upgrading of a hotel complex. The overall investment is EUR 42.37 million, EUR 15.2 (36%) of which financed by the Recovery and Resilience Facility.
More information can be found on the project webpage here (in Greek)
Link to TV spot 'Productive investments of Greece 2.0' here (on YouTube) (in Greek)
