Greece requests second tranche of EU recovery funds

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ATHENS, Sept 30 (Reuters) – Greece on Friday requested a second disbursement of 3.56 billion euros from the European Union’s Recovery Fund, deputy Finance Minister Theodore Skylakakis said, funds that will help the country diversify its economy.

Greece will receive about 31 billion euros in subsidies and loans from Europe’s 750-billion-euro post-pandemic fund by 2026, mainly to make its economy greener and more digitalised.

“This is a strong message to the markets and also for the speed of implementing the programme,” Skylakakis told reporters, adding that Greece was among the first six countries to file a second request for disbursements.

It has already received about 4 billion euros and has funded more than 140 projects since 2021, among them energy storage facilities from renewables and digitalization of its public services.

Since taking office in 2019, Prime Minister Kyriakos Mitsotakis has stepped up moves to diversify the economy and attract foreign investment and high-tech companies to the country which emerged from a decade-long financial crisis in 2018.

Greece announced on Thursday that Google will set up its first cloud region in the country, giving a boost to the government’s efforts to become a world cloud computing hub.

(Reporting by Lefteris Papadimas; Editing by Angus MacSwan)

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