Greece Secures €21bn from EU in ‘ESPA’ Funds for 2021-2027

Photo source: espaofficial.gr

The European Commission on Thursday approved the Partnership Agreement for the 2021-2027 programming period for Greece, which will allocate more than 21 billion euros to the country for investments and social programs.

Greece is the first EU country to reach a Partnership Agreement for 2021-2027, the Commission stated.

According to a statement from the Commission, the resources will support key EU priorities such as the green and digital transition and contribute to develop a competitive, innovative and export-oriented growth model for the country.

🇬🇷 Greece is the first EU country to reach a Partnership Agreement for 2021-2027. That means the deployment of more than €21 billion for:

🌳 greener and digital economy
🤝 more social cohesion
🐟 new approach to the fisheries and maritime sectors

— European Commission 🇪🇺 (@EU_Commission) July 29, 2021

Known as ESPA funds, the support will come from the National Strategic Reference Framework (NSRF). Greece will receive a total of 26.2 billion euros (of which 21 billion euros comes from the EU and some 5.3 billion euros are national funds) to support projects that involve a green and digital economy; more social cohesion; a holistic approach to the fisheries, aquaculture and maritime sectors; and a digital society.

“I am pleased to approve the Greek Partnership Agreement for 2021-2027, the first EU country to have submitted it to the Commission,” Commissioner for Cohesion and Reforms, Elisa Ferreira, said during a teleconference with Greek Prime Minister Kyriakos Mitsotakis and Minister of Development and Investment Adonis Georgiadis.

“This is a political contract that translates European solidarity into national priorities and investment plans aimed at making our Member States future-proof, while correcting the internal disparities,” Ferreira added.

Greek PM: Important moment for Greece

Greek Prime Minister Kyriakos Mitsotakis speaking to Commissioner for Cohesion and Reforms, Elisa Ferreira, during a teleconference. Photo source: primeminister.gr

On his part, PM Mitsotakis highlighted that the approval of ESPA funds is a “very important moment for Greece” and the Greek economy.

“If we add the 18 billion euros in grants, the 13 billion euros in loans through the Recovery and Resilience Fund, but also the new Common Agricultural Policy and the other EU funding packages, we have almost 77 billion euros available to support the rapid recovery of the Greek economy,” he said.

In total, the Greek Partnership Agreement for 2021-2027 comprises 22 programmes: 13 regional and 9 national. The 13 regional programmes (combine European Regional and Development Fund – ERDF and European Social Fund Plus) and correspond to each administrative region in Greece.

A presentation of the Partnership Agreement for the 2021-2027 programming period for Greece can be seen here (in Greek).