At 3.93 billion euros the total budget of the investment projects amounts to that have been submitted, so far, to the loan part of the National Recovery and Resilience Plan. This was stated by the Deputy Minister of Finance, Mr. Theodoros Skylakakis, responsible for the implementation of the Programme. These statements became a special event, entitled: "Opportunities and Prospects of Greece 2.0".

It was organized by the Economic Chamber of Greece (OEE), in collaboration with the Ministry of Finance and the Special Coordination Service of the Recovery Fund, in the framework of the information campaign of the members of the Economic Chamber of Greece, accountants - tax consultants and businesses, on the benefits of "Greece 2.0".

Investment projects

More specifically, regarding the loan part of the National Plan, 107 investment plans have been submitted, for the time being, by interested investors. The total budget of these proposals amounts to 3.93 billion euros, of which:

• 1,68 billion euros are loans of the Recovery and Resilience Fund
• 933 million euros are investors' own funds
• 1,32 billion euros bank funds

The above investments fall into different sectors of the economy, such as:

• The services
• transport
• tourism
• processing
• The energy
• trade
• Construction

Already, 13 investment projects have been contracted, with the total amount of investment amounting to1,02 billion euros (EUR 455.34 million are resources-loans of the Recovery Fund).

It is noteworthy that the weighted average interest rate of these loan agreements amounts to 0.77%.Their average repayment term reaches about 11 years.

"Most loans are at a reference rate," the deputy finance minister commented, explaining that in practice this means that many investors do not apply for state aid.

In fact, he stressed that it is crucial small and medium-sized enterprises, which have or may acquire a bank profile, make use of Greece 2.0, which provides for possibility of lending at favourable interest rates, as we "enter a period of rapid rise in interest rates, which will last at least 1.5 to 2 years until inflation is harnessed in Europe and in America," he said.

Additionally 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, they are contracted directly. For the subsidies part, where the budget of the projects that have been included in "Greece 2.0" exceeds 11 billion euros, with project inclusions growing rapidly, Mr. Skylakakis noted that a number of actions are being activated, soon, such as:

• "Saving for businesses"
• "Smart Manufacturing"
• the "Industrial Parks" etc.

Second payment request for the investment programme Greece 2.0

The Deputy Minister of Finance stressed 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 subsidy part).

It is recalled that Greece was the third country (after Spain and France) to submit (29.12.2021) to the Commission the first payment request. Greece has thus adhered to the timetable laid down in the Operational Arrangements. The disbursement of the first payment, amounting to €3.6 billion, is a major step forward. euro, in the context of "Greece 2.0", was made on 08.04.2022. The process proceeded after meeting the 15 required milestones.

Finally, referring to the value of the Recovery and Resilience Fund, Mr. Skylakakis pointed out:

"We need to use it with the utmost efficiency and seriousness. It can keep us on a positive trajectory throughout the potential recession that Europe will have due to gas prices - and possibly the whole of the West. We must preserve it, as the apple of our eye, outside of party rivalries and political influences. It is precious."