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Recovery Fund: 41 loan contracts were signed for investments amounting to 1.8 billion euros

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Of this amount, 824.4 million euros correspond to TAA loans, 549.4 million euros come from commercial banks and the remaining 439 million euros are the same participation of the investors.

The Deputy Minister of Finance, Mr. Thodoros Skylakakis, sent, today, Tuesday, November 1, to the Standing Committee on Economic Affairs of the Parliament, the data for all the loan agreements signed until 31.10.2022, in the context of the National Recovery and Resilience Plan “Greece 2.0”.

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In particular, these are 41 contracts, which concern the loan arm of the Recovery Fund (TAA). The total budget of the same number of investment projects submitted to the Program amounts to 1.8 billion euros.

Of this amount, 824.4 million euros correspond to TAA loans, 549.4 million euros come from commercial banks and the remaining 439 million euros are the same participation of the investors.

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The weighted average interest rate of the above loan agreements that have been signed is 1.1% and the average loan repayment period is 11 years.

Most of the investment projects (43%) that have been contracted fall under the “Green Transition” pillar of the National Plan. The rest (57%) belong to one of the pillars: “Extroversion”, “Digital transformation” and “Innovation, Research & Development”. In fact, some of the 41 plans relate to more than one pillar.

And the contribution of loan agreements to the climate goal and digital goal of the National Plan amounts to 36% and 28%, respectively.

In total, 210 investment projects have been submitted to “Greece 2.0” at the moment, which are in various stages provided by the Program (e.g. evaluation, pre-approval, approval, contracting).

Their budget amounts to 8.22 billion euros (3.48 billion euros TAA loans, 2.74 billion euros bank funds and 2 billion euros own participation). In fact, of the 210 investment projects, 112, totaling 1.73 billion euros, come from small and medium-sized businesses.

The investment proposals submitted concern different sectors of the economy, e.g. services, transport, tourism, manufacturing, energy, trade and construction.

The following credit institutions participate in the lending arm of “Greece 2.0”: European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), National Bank, Piraeus Bank, Alpha Bank, Eurobank, Optima Bank, and Pancreatia Bank.

Attached is the table sent to the Parliament, with the basic data on the loan contracts signed in the context of “Greece 2.0”.

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Terrance
Terrance
I am Terrance Carlson, author at News Bulletin 247. I mostly cover technology news and I have been working in this field for a long time. I have a lot of experience and I am highly knowledgeable in this area. I am a very reliable source of information and I always make sure to provide accurate news to my readers.

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