Recovery Fund – The long list of reforms to come

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Others two doses total height 5 billion euros (1.97 billion and 3.09 billion euros) will try to claim the Ministry of Finance in 2022 but after first fulfilling the 70 milestones of investment and reforms that accompany them.

The first installment of 1.97 billion euros will come only from grants and is linked to 25 milestones which must be completed by the end of June when the payment request is expected to be made. According to the schedule set by the Commission itself, the evaluations that should precede the disbursement will take about 4 months and the money is expected to arrive in Greece at the end of October or the beginning of November.

The 45 milestones for the third tranche from the Recovery and Resilience Fund should be completed by the end of December. The tranche is 3.09 billion euros and will consist of grants of 1.97 billion euros and loans of 1.12 billion euros. If the application is received and made by the end of the year then we should expect the installment money in a year from now.

The second dose

In particular, for the second installment of the Recovery Fund, it is planned to implement milestones concerning:

1. Plan to accelerate the implementation of public investment, improvement and the public procurement framework.

2. Start designing a bonus system for special places. This is the beginning of the payment of a performance bonus for the employees who manage sectors of the Recovery Fund.

3. Modernizing and improving the resilience of major sectors of the economy, a reform law on the railway sector.

4. Reforms for tourist ports.

5. Restructuring and strengthening of the revenues of the RES-SITHYA account, legislation amending law 4001/2011; entry into force of all relevant decisions, including codes, by the ministries, RAE and the RES and Guarantee Manager of Origin.

6. Rationalization of the efficient operation of the new model of the electricity market and the development of new RES stations to achieve the objectives of ESEK.

7. Modernization and upgrade of the Greek system for upgrading skills and retraining.

8. Codification and simplification of tax legislation.

9. The beginning of construction works Highway of Central Greece E-65.

10. Entry into force of the market regulation for the obligation to provide public service (buses).

11. Overpayment for green and digital investments of SMEs.

12. Legislation to encourage electronic transactions.

13. Capital Markets, supervision, digitization of supervisory procedures, Capital Markets Association.

14. Modification of the legal framework for attracting strategic investments.

15. Restoration of lands that abandon traditional forms of exploitation in the course of de-lignification of the country.

There are also 10 milestones completed or tending to be completed before the deadline relating to:

1. Legislation to encourage business extroversion.

2. Legislation on basic and applied research.

3. Invitation for the submission of upgrade proposals from the research centers.

4. Reform and simplification of licensing for RES.

5. Lifelong Learning Program.

6. Overpayment for green and digital investments of small and medium enterprises.

7. Legislation to provide personal assistance to people with disabilities.

8. Invitations to submit applications for the “Smart Processing” program.

9. Economic transformation of the agricultural sector.

10. Program for the creation of new industrial parks.

The third dose

Things will be even more difficult in the third installment. Before the disbursement application can be made, 42 milestones must be completed for the part of the installment amounting to 1.97 billion from the grants and 3 for the 1.12 billion. from loans. Specifically in the list of landmarks:

1. The second cycle of saving.

2. The implementation of a new regulation of the electric market for the obligation to provide public service by buses.

3. New waste management legislation for the implementation of sustainable landfill and recycling.

4. New fiber optic network in buildings and homes.

5. “Customer-centric” public administration services, through the simplification and improvement of procedures, system improvements and compliance with European strategies and policies.

6. Establishment of the national register of procedures and implementation of a national plan for the simplification of procedures.

7. Reform of passive labor market policies to support the transition to employment.

8. New framework for combating smuggling, mainly for products subject to excise duties (tobacco, alcohol and energy).

9. Improving the framework for public procurement, capacity building measures and the fight against corruption.

10. Changing the framework of asset declarations by politicians and political parties.

11. Strengthen the national framework for combating corruption through targeted interventions in the areas of detection, prevention and awareness-raising.

12. Accelerate the delivery of justice.

13. Establishment of a judicial police.

14. Reform of employment in the cultural sector.

15. Legislative reform on the framework governing industrial parks.

16. Publication of the call for proposals for the digital transformation of the agri-food sector.

17. Start of the third cycle of the savings program.

18. Preparation of urban plans for the implementation of the urban reform.

19. Framework for installation and operation of charging infrastructure for electric vehicles.

20. Framework for the electrification of industries with green energy.

21. Start programs for charging points for electric vehicles.

22. Feasibility study for e-mobility in urban transport.

23. Establishment of a new regulatory authority for water and wastewater.

24. System for monitoring and managing the use of energy resources.

25. Awarding a contract for the digitization of public records.26. Awarding a contract for the work of the interoperability system of the public internet services.

27. Contract award for Customer Relationship Management (CRM) system for general government.

28. Awarding a contract for further modernization of the one-stop-shop services of the public administration.

29. Awarding a contract for a new public procurement system

30. Contract award for cybersecurity strategy and policies for the public sector.

31. Digital skills upgrade programs for conscripts.

32. Awarding a contract for the digital transformation of the Ministry of Foreign Affairs.

33. Awarding a contract for electronic registers.

34. Awarding a contract for Central Business Intelligence (EN) to the public.

35. Digital transformation of work systems.

36. Modernization and upgrade of the Greek system for upgrading skills and retraining.

37. Activation of family medicine study programs in the context of primary health care.

38. Reform in the fields of mental health and addictions with a goal of 50 open units.

39. Enforcement of the law on internal controls against corruption.

40. Strengthen anti-corruption policy planning and coordination.

41. Creation of a Judicial Charter by completing an institutional framework.

42. Start of bidding for new courthouses.

43. Signing of appropriations of EUR 586.4 million by financial institutions with final beneficiaries for private investment.

44. Signing of the InvestEU contribution agreement to the financing of the TAA.

45. Signing a contract for the equity platform of private investors.

Source: Capital

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