The evaluation of the Register of Evaluators has started for the loans of the National Plan for Recovery and Sustainability “Greece 2.0”, following a decision signed by the Deputy Minister responsible for the Program, Mr. Theodore Skylakaki.
In particular, the participants in the Register undertake the evaluation of investment plans for which financing is requested from its loan funds Recovery and Durability Fund. Their selection is made by the credit institutions participating in “Greece 2.0” through electronic lottery.
In the context of control of eligibility the appraisers cooperate with the banks and the bodies of the investment plansensuring compliance with EU and national legislation, with particular sensitivity to environmental issues.
For their inclusion in the Register, Candidate evaluators must have a team of experienced staff. This includes, inter alia, environmentalists who review and ensure that plans comply with the Do No Significant Harm principle (DNSH), as well as legal advisers, who ensure compliance with State Aid rules.
Each project team consists of at least 20 members, which contributes to the evaluation of projects in terms of transparency and speed. The structure of the team is as follows:
1. Project Manager: Certified Public Accountant, who has the overall responsibility for the work of the evaluator, the administration, the progress and the coordination of all the members of the project team. He is responsible for ensuring the quality of the project, as well as for the observance of all the completeness standards set by the competent Special Coordination Service of the Recovery Fund.
2. Deputy Project Manager: Certified Auditor – Accountant, who assists and replaces the Project Manager in his duties.
3. Evaluation staff: Certified public accountants (at least four people).
4. Business plan evaluation staff (at least five people).
5. Environmental Impact Assessment / Study Executives (at least five people)
6. Legal advisers, specialized in state aid issues (at least two people)
7. Evaluation staff of digital transformation plans (at least one person)
8. Secretarial Support (at least one person)
The contribution of the evaluators is necessary for the efficient utilization of the loan resources of the Recovery and Resilience Fund., located in the implementation orbit. Already, potential investors, who wish to utilize the 12.7 billion euro lending arm of “Greece 2.0” have begun to submit their plans. It is recalled that the first approved investment – by a bank cooperating with the Fund – amounting to 10 million euros, which will be made by the mining industry “Hellenic White Stones”, has been announced.
It is clarified that mtransitional legislation provided for a process of evaluating the plansn, until the creation of the Register. Now, with the publication of the Minister’s decision, the transitional provision ceases to be valid and the Register is put into full operation.
In the meantime, out of the total amount of 12.7 billion euros, funds of 1.57 billion euros are disbursed immediately, for the implementation of investments in the Greek territoryin accordance with the business agreements of the Ministry of Finance with the domestic Banks (National Bank, Piraeus Bank, Alpha Bank, Eurobank, Optima Bank, Pancretan Bank and Hellenic Development Investment Bank) and the international ones (European Investment Bank and European Development Bank) , participating in the Program.
The cooperating banks have sent an official invitation to the investors – with relevant invitations that they published on their websites – for their participation in “Greece 2.0”.
The loans of the Recovery and Resilience Fund cover up to 50% of the total eligible investment costs, with a fixed interest rate at this stage of 0.35%. The private participation of the companies (investment body) covers at least 20%, while the co-financing loan from the Bank cooperating with the Program at least 30% of the total eligible costs of the investment project.
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