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Greece hits target, says EU commissioner

European Regional Development Commissioner Johannes Hahn said that Greece for the first time had hit its target with regard to the absorption of funds

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13 Jul 2012

European Regional Development Commissioner Johannes Hahn said that Greece for the first time had hit its target with regard to the absorption of funds stemming from European investment subsidies under the National Strategic Reference Framework (NSRF).

Speaking to state-run AMNA news agency from Brussels ahead of a two-visit to Athens which begins on Thursday, Hahn noted that despite delays due to the recent elections, Greece's absorption of EU subsidies had reached 41 percent, as opposed to the EU's average of 37.5 percent.

According to Commissioner Hahn this success was being attributed to an increase in the percentage of the European Union's participation in the funding of projects (now set at 95 percent, as opposed to 75 percent previously) one the one hand, and because the bailout agreement signed between Greece and its creditors set specific targets in this area.

During his two-day visit, the Austrian Commissioner is expected to meet with Prime Minister Antonis Samaras, Finance Minister Yannis Stournaras and Development Minister Costis Hatzidakis, among others, in order to be informed of the country's progress.

Of the 181 projects which have been budgeted at a total of 11.5 billion euros, about 80 are experiencing delays while the realization of four is in doubt. Six projects have been completed while the remaining 100 are in the process of implementation.

Source: AMNA, Kathimerini

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