The 4th payment request, amounting to 2.3 billion euros, for the loan component of the Recovery and Resilience Fund (Resilience Fund) submitted today to the European Commission by the Deputy Minister of National Economy and Finance, Nikos Papathanasis.

As stated in a statement from the ministry, the specific request was submitted after TAA’s goal of contracting loans, amounting to 4.52 billion euros, was achieved earlier than expected.

TAA’s loan program shows particularly high demand from businesses of all sizes, given that these loans are granted with a fixed lending rate of 0.35% for very small and small businesses and 1% for medium and large ones, with an average repayment period of 14 years, amid rising interest rates and the cost of capital internationally.

It is noted that by 26/3/2024, 287 loans had been contracted, of which 136 are loans for small and medium enterprises. The budget of all loan agreements reaches 11.15 billion euros, of which 4.75 billion are loans from the Recovery Fund, 3.77 billion euros are loans from banks and 2.63 billion euros are investors’ equity .

On the occasion of the submission of the 4th payment request, the Deputy Minister of National Economy and Finance, responsible for the Recovery and Resilience Fund, Mr. Nikos Papathanasis, stated: “Consistent with our commitments to our fellow citizens and our European partners, and in continuation of the previous related requests that we submitted in time and received the approval of the EU, we are today proceeding with the 4th payment request from the loan arm of the Recovery and Resilience Fund. The aim is for the specific funds to be directly promoted in the economy, to strengthen entrepreneurship and to reduce the investment gap, while simultaneously creating new jobs.
In the immediate future, we are proceeding with the submission of the corresponding payment request from the grants section, achieving the required milestones and reforms for the improvement of important infrastructures, for Health, Education, Civil Protection, for sustainable development, for the everyday life of all our fellow citizens”.

The Commander of the Special Coordination Service of the Recovery and Resilience Fund, Mr. Orestis Kavalakis, said: “Today we submitted the 4th payment request for the loan part of the National Recovery and Resilience Plan. The loan program of the Recovery Fund works for the private economy as an investment incentive, providing all businesses, with fast procedures, low-interest loans with an emphasis on green and digital transition and extroversion. It is a crucial financial tool which, in a very short period of time, has succeeded in mobilizing a significant amount of investment and which represents a unique opportunity that all businesses can take advantage of.”