Commission welcomes European Parliament support for the Jobs and Growth Plan for Greece

Met dank overgenomen van Europese Commissie (EC), gepubliceerd op dinsdag 6 oktober 2015.

The European Commission welcomes today's vote of the European Parliament which paves the way for swiftly implementing the Jobs and Growth Plan for Greece presented by the Commission on 15 July. The aim is to allow Greece to make full use of EU funds and inject liquidity into the Greek economy. Greece is set to receive more than €35 billion that isalready earmarked for the country from the EU budget over the years 2014-2020under the European and Structural and Investment Funds.

Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, said: "I welcome today's vote in the European Parliament giving its green light to frontloading existing EU funds for investment in growth-enhancing projects in Greece. EU funding can play a vital role in injecting investment directly into the real economy, if targeted wisely and used to its full potential. Today's vote will help to ensure that can happen. It should be seen in a wider context of the reform process undertaken in Greece. Timely and effective implementation of reforms to modernise Greek public administration and the economy - as agreed under the new stability support programme - is crucial to regain financial stability and, consequently, ensure economic growth and job creation."

Corina Creţu, Commissioner for Regional Policy, said: "I'm very glad that the European Parliament backed our proposals for Greece to fully benefit from the European Structural and Investment Funds. These measures are exceptional because the situation is exceptional; they will help successfully implement the 2007-2013 programmes while kickstarting investments under the new 2014-2020 period. It is a strong message of European solidarity and now it is up to our Greek partners to do their part and ensure a swift and lasting return to growth."

The proposal from the Commission, which the Parliament has supported today,includes the early release of the last 5% of remaining EU payments normally retained until the closure of the programmes in 2017 and the complete removal of the need for national co-financing, meaning a 100% EU co-financing rate for 2007-2013. This would translate into immediate additional liquidity of some €500 million and a saving for the Greek budget of around €2 billion. The proposal also increasesthe rate of initial pre-financing for programmes for 2014-2020 in Greece by 7 percentage points, which can make available an additional €1 billionupfront.

The Jobs and Growth Plan for Greece is intended to flank the comprehensive set of reforms agreed between the Greek government, the Commission and international partners in the context of the new economic adjustment programme. The Commission also offers technical assistance and expertise to Greece, through its new Structural Reform Support Service (SRSS)to ensure swift activation of the funds and their best use to support recovery, and create foundation for sustainable employment and growth.

Following its formal adoption by the EU legislators, the Commission's proposal is expected to enter into force mid-October.

STATEMENT/15/5779

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