The Commission approved the Greek regime of 2 billion euros aimed at providing investment support for sustainable recovery and 'green' investment.

Greece notified the Commission, based on the temporary framework, of the 2 billion euro scheme. euro. Under this measure, the aid will take the form of loans with subsidized interest rates.

Where public support for "green" investments will be directed of the Commission

Public support will be used to finance investments in tangible and intangible assets . The aim is to facilitate the development of economic activities that fall within the strategic pillars of the Greek Recovery and Resilience Plan, in particular green transition , the digitisation and innovation (R & D). Greece will ensure that the financed investments are environmentally sustainable, according to the taxonomy of the European Union.

Public support will be accompanied by conditions to limit unjustified distortions of competition, including safeguards to limit the risk of possible indirect aid in favor of financial intermediaries channeling the support.

The amount of the individual aid will in principle not exceed 15 million. euros per beneficiary. The scheme is expected to benefit around 250 companies.

The Commission found that the Greek regime is consistent with the conditions provided for in the temporary framework. particularly:

• the amount of aid per beneficiary will not exceed 1 % of the total budget
• the aid will benefit investments in tangible and intangible assets, but not financial investments
• interest rates on loans will adhere to the minimum levels set in the temporary framework
• public support will be granted no later than 31 December 2022

The Commission concluded that the Greek measure is necessary, appropriate and proportionate to promote investment in certain economic activities important for sustainable recovery, in accordance with Article 107(3)(c) of the TFEU.

On this basis, the Commission approved the aid measure under EU rules. for state aid.

Margrethe Vestager, Vice-President of the Commission responsible for competition policy for the Commission's action

"This scheme of 2 billion euro will help Greece set the course for a faster and more sustainable recovery, in line with the Greek Recovery and Resilience Plan. It is an important step for bridging the investment gap left behind by the crisis.

We continue to work closely with member states to ensure that national support measures to restart and attract private investment can be implemented as quickly and efficiently as possible, in line with EU rules."