By Tasos Dasopoulos
The Deputy Minister of Finance, Mr. Theodoros Skylakakis, called on investors to take advantage of the current low interest rates on loans from the Recovery and Resilience Fund and to proceed with mature projects, given that the increase in ECB interest rates will change the cost of loans coming from Brussels.
It is recalled that since the beginning of the year, loans of the Recovery Fund amounting to 1.6 billion euros have been committed to commercial banks. According to Mr. Skylakakis, 600 investments have already been submitted to the special platform, on which the private investments that seek financing from the TAA are posted. Of these, 20 projects have submitted a final request for actions worth 700m euros with loans from the 264m-euro Recovery Fund.
As the Deputy Minister pointed out, the second installment of loans amounting to 1.8 billion that will be committed to commercial banks will have a higher interest rate. Indicatively, he mentioned that today France, which has a similar borrowing cost with the Commission, the interest rate today reaches around 2.3%.
The press conference held today with the Deputy Minister of Development Nikos Papathanasis also analyzed the ways in which aspiring investors will be able to combine the loans of the Recovery Fund with the aid schemes of the new development law when the 13 aid.
In parallel with the promotion of private investments, Mr. Skyalakakis pointed out that within the framework of the Recovery Fund, the procedures for the review are being promoted. It will also show how the new REPowerEU axis will be included, for which Greece is preparing, but it is waiting for the EU regulations that will define the framework.
He also made it clear that from a financial point of view, the Fund’s loans are more desirable than the development incentives. But in the end the investor will choose the scheme that meets his needs. And the most important thing is that a very large network of motivations is being formed.
Finally, answering a question, Mr. Skylakakis also announced that 2.3 million beneficiaries have already joined the Fuel pass platform.
Source: Capital
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