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3 big infrastructure projects confirmed as candidates for funding by the European Recovery Fund



The big projects like BOAK and the northern part of E65 that will be funded by the Recovery Fund (with a total 32 billion euros) were revealed today by the Prime Minister of Greece, Kyriakos Mitsotakis in a teleconference that took place at Megaro Maximou, after the submission of the National Action Plan for the Greek part of the Recovery Fund to Brussels.

Summarizing the projects and actions within the Fund, he said that

“It includes initiatives at many levels, important Infrastructure projects, such as the E65 motorway, VOAK, the electrical interconnection of the Greek islands, projects with great importance and significant economic impact throughout the Greek society, like the significant energy upgrade of a large part of our building infrastructure, and a program much “larger” and “wider” than what we are used to today “.

“This plan aims at two goals: It responds to the issues of the current situation with the protection and stimulation of employment predominantly, but at the same time it is an opportunity for a radical transformation of the national economy towards an extroverted, innovative growth model, which will shape the Greece of the future “

A total of 72 billion euros in the Greek economy

Mr Mitsotakis spoke specifically about the amounts that will arrive in Greece:

“We have talked many times about the specific amounts that are related to the Recovery Fund: a total of 72 billion will flow into the country from the European Funds for the next seven years -32 billion from the Recovery Fund and about 40 billion from the Multiannual Financial Framework- which will be allocated through actions of the NSRF and the Common Agricultural Policy for the next six years “.

The Prime Minister described the new EU tool as a “breakthrough”:

“The Recovery Fund is also a very important revolution in the European Union’s choices, as it breaks down a taboo – the taboo of joint debt issuance, transferring resources to the members who need it most. It marks, therefore, a historic moment in the course of the European Union. “

He also noted that this agreement can change Greece

“We know that Greece is one of the most favored countries in the agreement, as the amounts that are going to be received will be among the highest in the Eurozone as a percentage of GDP. This, however, is something that should not lead to celebrations. On the contrary, it must lead to plans for a restructuring of the national economy, in order to break a vicious cycle of backwardness and reduced competitiveness that, unfortunately, lasts for decades. “


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