Today, Tuesday, December 28, 2021, the business agreements were signed between the Ministry of Finance and six domestic credit institutions, for the utilization of the loan resources of the “Greece 2.0” Recovery and Resilience Fund.
More specifically, the six agreements were signed, in the context of an online event, by the Deputy Minister of Finance, Mr. Thodoros Skylakakis and representatives of the following credit institutions: National Bank, Piraeus Bank, Alpha Bank, Eurobank, Optima Bank and Pancretan Bank.
Under these agreements, 970 million euros will be disbursed immediately to Greek credit institutions. It is recalled that similar agreements have been signed with two international financial institutions, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), for which an additional € 600 million is expected to be disbursed. Therefore, an amount of 1.570 billion euros will be, immediately, available for the financing of investments in the Greek territory.
Based on the procedure provided by the Recovery Fund, within 30 working days, the specific six domestic credit institutions will publish calls for expressions of interest to investors who wish to receive loans from “Greece 2.0” for the implementation of their plans. At the same time, in the coming days there will be an invitation to other credit institutions in the country that have not yet participated in this scheme.
To be eligible, investments must contribute to one or more of the following objectives: 1) green transition, 2) digital transformation, 3) innovation – research and development, 4) development of economies of scale through partnerships and mergers, and 5) extroversion.
The use of the loans of the Recovery and Resilience Fund “Greece 2.0” concerns all companies without exception that are interested in investing in Greece and is expected to contribute significantly to the acceleration of economic recovery and growth. The loans will be directed to long-term sustainable private sector investments, which will have a positive expected rate of return.
It is reminded that out of the 30.5 billion euros of “Greece 2.0”, 12.7 billion euros relate to loans and the remaining 17.8 billion euros to subsidies. The total amount for investments and reforms that will be mobilized, through leverage, is expected to exceed 60 billion euros.
The Deputy Minister of Finance, Mr. Thodoros Skylakakis, stated: Recovery, at 1.570 billion euros. It is one of the largest, if not the largest, Program of all National Recovery Plans in Europe. From the utilization of the loan resources, the private investments that will be implemented, concern a number of sectors of the economy and will contribute, catalytically, to the faster transition of Greece to the permanent and sustainable development “.
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