economy

Of this 10.53 billion euros, 4.5 billion euros correspond to loans from the Recovery and Resiliency Fund (RAF), 3.51 billion euros to bank funds and 2.52 billion euros to equity participation of investors.

Equally if not more important is that already for 68 investments with a total budget of 3.22 billion euros, loan contracts have been signed and are gradually entering the implementation stage. Of this amount, 1.20 billion euros correspond to TAA loans, 1.28 billion euros come from commercial banks and the remaining 741 million euros are the same participation of the investors.

At the level of absorption or potential absorption of the loans of a total amount of 12.7 billion that Greece has secured, it is noted that the 291 investment projects claim support of a total amount of 4.5 billion euros from the loans of 3.51 billion will be the loan participation of the banks and 2.52 billion euros the participation of the investors themselves. It is also pointed out that out of the 291 investment proposals, 167, amounting to 2.25 billion euros, come from small and medium enterprises.

The above projects are in various stages foreseen in the framework of "Greece 2.0" (e.g. pre-approval, evaluation, approval, contracting) and concern different sectors of the economy (industry, retail trade, power generation investments - RES, telecommunications , tourism and services).

The weighted average interest rate of the above loan agreements is 1.2% and the average loan repayment period is 11 years.

The Deputy Minister of Finance, Mr. Thodoros Skylakakis, said: "The loan part of the National Recovery and Resilience Plan is an extremely successful development tool, as can be seen from its implementation data. There is strong interest from the investment community, as in one semester (the first loan agreement was signed on 30.6.2022) 291 proposals were submitted, with a total budget of more than 10.5 billion euros, while the investments are dispersed, geographically, in over 100 municipalities, throughout the country.

In fact, the loan contracts that have been signed include many industrial and tourist investments, which contribute, catalytically, to the stimulation of local economies, while the specific tool also plays a very important role in the green energy transition. Being the biggest and fastest investment tool the country has ever had, the loan part of the Recovery Fund has many more possibilities, since it can cover investment projects, totaling approximately 30 billion euros".