BRUSSELS (dpa-AFX) - The European Commission on Wednesday revealed plans to help Greece maximize its use of EU funds, two days after an agreement paving the way for a new support program for Greece.
As mandated by the Euro Summit on July 12-13, this will help mobilize more than EUR 35 billion up to 2020 to support the Greek economy, provided that the conditions agreed upon by the Euro Summit will be met.
The Jobs and Growth Plan for Greece is meant to flank the comprehensive set of reforms that could form part of a program under the European Stability Mechanism to be negotiated in the coming weeks between Greece and its international partners. Both elements - the reforms and the mobilization of funds for investment and cohesion - are essential preconditions for restoring jobs and growth in Greece and returning the country to prosperity.
The Commission said the Jobs and Growth Plan will help to invest in people and companies in Greece. 'It is a continuation of the support the Commission has already provided to Greece throughout the crisis, both in terms of financial support and technical assistance.'
EU Commission President Jean-Claude Juncker, said: 'Greece has already received more international financing than all of Europe did from the U.S. Marshall Plan after the Second World War. Following Monday's Euro Summit agreement, the European Commission is willing to step this up even further to help Greece unleash a significant economic rebound and to give the proposed reforms the best chance to work'
He added the EUR 35 billion can help make Greece an attractive location for investment and give hope to especially the younger generation. 'After at times painstaking months of negotiations, we now need to look to the future. This new start for jobs and growth is the Commission's contribution. I trust the European Parliament and Member States will play their part so we can unlock the money swiftly.'
Copyright RTT News/dpa-AFX
© 2015 AFX News
