Financing from TAA loans is claimed by 107 investments with a budget of 3.93 billion.

By Tasos Dasopoulos

The budget of the 107 investment projects that have been submitted to the special electronic platform for projects financed by the loans of the Recovery and Resilience Fund reaches 3.93 billion euros. Of these projects, 13 investments with a total budget of 1.03 billion have been “contracted”, which will be supported by 455.34 million euros from the TAA.

This was emphasized, among other things, by the competent Deputy Minister of Finance, Mr. Thodoros Skylakakis, at a special event, entitled: “Opportunities and Prospects of Greece 2.0” organized by the Economic Chamber and the Special Coordination Service of the Recovery Fund, in the context of the information campaign of OEE members, accountants – tax experts and businesses, about the benefits of “Greece 2.0”.

In particular, Mr. Skylakakis emphasized that the budget of 3.93 billion euros for the 107 investment proposals will be covered by 1.68 billion euros from loans from the Recovery and Resilience Fund, 933 million euros from investors’ equity and 1 .32 billion euros of bank funds. He also emphasized that in addition to the 13 investments that already have contractors, another eight investment projects, with a total budget of 74.39 million euros, of which 34.94 million euros are resources-loans of the Recovery Fund, are in the phase of contracting

The above investments fall into different sectors of the economy, such as services, transport, tourism, manufacturing, energy, trade and construction.

The Deputy Minister of Finance reminded those present that the weighted average interest rate of these loan contracts amounts to 0.77%, with their average repayment period reaching approximately 11 years.

“Most loans are with a reference interest rate,” commented the Deputy Minister of Finance, explaining that in practice this means that many investors do not apply for state aid.

He underlined, in fact, that it is crucial for small and medium-sized enterprises, which have or can acquire a banking profile, to take advantage of “Greece 2.0”, which provides for the possibility of lending at a favorable interest rate, as “we are entering a period of rapid interest rate increases, which will last at least 1.5-2 years until inflation in Europe and America is tamed,” he said.

Regarding the subsidies, he recalled that the budget of the projects that have been included in “Greece 2.0” exceeds 11 billion euros, with the number of projects increasing rapidly, while he noted that a series of actions are being activated , coming soon, such as “Save for business”, “Smart manufacturing”, “Industrial parks” etc.

He also emphasized that in September, the Greek government will submit to the European Commission the second request for payment from the Recovery and Resilience Fund, as our country is moving towards the successful completion of the required milestones (25 for the part of the subsidies).

It is recalled that Greece was the third country (after Spain and France) to submit (29.12.2021) to the Commission the first request for payment, following the schedule provided in the Operational Regulations. The disbursement of the first payment, amounting to 3.6 billion euros, in the context of “Greece 2.0”, took place on 08.04.2022, after the fulfillment of the 15 required milestones.

Finally, referring to the value of the Recovery and Resilience Fund, Mr. Skylakakis pointed out: “We must use it with maximum efficiency and seriousness, as it can keep us on a positive course throughout the possible recession that Europe will have due to gas prices – and possibly the entire West. We must preserve it, as the apple of our eye, outside of partisan rivalries and political influence. It is precious!”.

Today, Friday, September 2 at 11 am, at the Xystris Theme Park in Pyrgos, another event in the framework of the information campaign carried out for “Greece 2.0”, in which the keynote speakers are Mr. Skylakakis and the President of the OEE , Mr. Konstantinos Kollias.