Greece gets 3.6 billion euros from European recovery fund

ATHENS, Greece (AP) — Greece has received a 3.6 billion euro payment out of its allotted 30.5 billion from the European Union’s pandemic recovery fund. The announcement was made Friday by European Commission’s executive vice president in a video call with Greek Prime Minister Kyriakos Mitsotakis. The European recovery and resilience fund provides vital relief for Greece, which had barely emerged from a deep, decadelong financial crisis when the coronavirus pandemic hit. It provides 12.7 billion euros in loans and 17.8 billion euros in grants through 2026. The plan Greece put forward to qualify for the funds centers on environmental and digital reform, employment and private investment.