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Greece Channeling More EU ESPA Funds into Projects

Greece has increased its absorption rate of EU resources from the European Structural and Investment Funds (ESIF) 2014-2020 program since July 2019 compared to other member states, the Development & Investments Ministry said recently. The ESIF resources are known in Greece as “ESPA” funds.

According to an overview released by the European Commission, Greece moved up to 8th place with an absorption rate of 56 percent in terms of total payments (including pre-financing) from the 12th spot which it held in July 2019 with 38 percent.

With regard to intermediate payments, Greece is ranked 13th at 44 percent among the 28 EU countries, up five spots compared to July 2019 from 18th and 38 percent, surpassing Spain and Italy, among others.


“Greece’s upward trend in all charts in terms of absorption is evident, considerable and rewarded by European authorities,” said Development & Investments Minister Adonis Georgiadis, adding that the top priority is to ensure that not a single euro of EU resources is lost.

Known as ESPA in Greece, the funds are released through the Partnership Agreement for the Development Framework and are channeled into projects aimed at strengthening Greece’s economy by creating sustainable jobs and supporting sustainable development.

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  1. Christopher Wicks Reply

    In Platania South Pelion, there is an old plan that has just been sent by the Thessaly regional Govt to the Ministry of Fishing and Agriculture for the creation of a large fishing port in our small touristic village. An action by some local residents delayed this plan by taking a case to StE for the cancellation of the project on environmental grounds as well as the fact it would damage tourism and the traditional character of the village. Fishing has declined since the original study and there is no justification for the project. We are watching to see if ESPA funds are directed to this project. If it happens it will not help the fishing industry because there are very few fish and the existing shaelter is more than sufficient. Funding would cause severe problems for the tourism professionals in the village. We are cosely watching this story.

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