Among its features are a fixed interest rate of 0.35% for small and very small businesses and 1% for medium and large businesses, as well as an accelerated process of signing an electronic loan agreement in 1.5-2 months. recovery fund loan programdeveloped by the Deputy Minister of Finance Theodor Skylakakis yesterday in Kozani, at an information event for Greece 2.0.

Mr. Skylakakis urged small and medium-sized enterprises that have or can acquire a banking profile to take advantage of this loan instrument, describing it as the best investment vehicle that has ever existed in Greece.

Data from banks and the Ministry of Finance show that there is indeed interest in the Fund’s loans, since by the end of 2022, 68 loan agreements with a budget of 3.22 billion euros for investment projects were signed, and four systemic banks announced the day before yesterday that they had evaluated and submitted proposals for 10 .5 billion euros on behalf of their clients. Moreover, Mr. Skilakakis also recently stated that the total amount of contracts will soon reach 10 billion euros. Listing the benefits of these loans, the Deputy Minister also said that the VAT of the investment plan is covered, while working capital and promotion and communication (marketing) costs can add up to 30% of his eligible costs. He also mentioned the possibility of combining this particular instrument with the development law, as well as with any other investment instrument, from the NSRF, PAA, even another Recovery Fund instrument. “All you have to do is not start investing until you have applied any investment vehicle you choose,” he said.

The process of signing the contract is carried out electronically in 1.5-2 months.

He also clarified that “no government official or politician signs any stage of the process, from the application to the final decision. The viability of an investment plan is assessed by the banking system and the eligibility of certified public accountants.

In addition to loans, of course, there are also Recovery Fund subsidies, which are also partly related to private investment. Mr. Skilakakis said the following programs related to SMEs will be “launched” soon: Save the Enterprise, agri-food actions, a dedicated REPower EU tool that will create space for investment in production and energy conservation. , etc. .

In total, of the 60 billion euros estimated to be mobilized under the National Recovery and Resilience Plan, Mr Skilakakis said that around 45 billion euros would be private investment. Referring specifically to Western Macedonia, he argued that it had the ability and incentive to host the largest share of this private investment as a percentage of its GDP. According to him, the interest in the region is great not only for photovoltaic investments, but also for investments in heavy industry and manufacturing.