Greece is among 13 EU member states that have requested loans through the European Recovery Fund’s Recovery and Resilience Mechanism (RRF) on Friday, the European Commission announced on Friday.
August 31 was the deadline for submission of loan requests from the NextGeneration EU Fund’s resources. The Fund, set up after the coronavirus pandemic, contains 750 billion euros of which 385.8 billion are earmarked for support in the form of loans. The European Commission forwarded the loan disbursement requests to the European Parliament and Council for the final review, in a three-page document titled “Final Overview of Member States’ Loan Requests Under the RRF”.
Six EU countries requested loans for the first time: Belgium, Croatia, Czech Republic, Hungary, Lithuania, and Spain.
According to RRF regulations, “where the loan request of a member state exceeds the threshold of 6.8% of that member state’s 2019 GNI (Gross National Income) in current prices, the Commission will also take into account the justification provided by the member state as to the occurrence of exceptional circumstances. The countries falling under these categories include Greece as well as Croatia, Italy, Poland and Romania.