Greece launches €5.3 billion Social Climate Plan

Greece has launched a Social Climate Plan, approved by the European Commission, totaling €5.3 billion. This initiative serves as a successor to the Recovery and Resilience Facility, aiming to support 1.5 million households and 70,000 micro-businesses through 2032.

A key component is the Social Leasing program, which allows approximately 15,000 vulnerable households to lease fully electric vehicles. The program offers monthly installments between €50 and €150 with no down payment. Subsidies for the four-year lease range from €12,500 to €15,000, with an additional €500 provided for a home charger. The lease includes maintenance, insurance, and service costs. After four years, participants have the option to purchase the vehicle for between €3,000 and €6,000.

The broader €5.3 billion package includes energy upgrades for homes, social housing initiatives, and heating subsidies. The funding is composed of €3.57 billion from the EU and €1.2 billion from national resources, with the total amount including VAT.