On Monday the establishment of the Open Trust Account (Escrow Account) for NSRF beneficiaries

On Monday, the establishment of the Open Trust Account (Escrow Account) will be signed, for the convenience of NSRA beneficiaries.

In order to facilitate the liquidity of the beneficiaries in the actions of the NSRF, the Ministry of Economy & Development proceeded in cooperation with the Deposit and Loan Fund to the establishment of the Open Trust Account (Escrow Account).

Escrow Account – Open Trust Account

This account is a mechanism by which advances will be made available to investors without the presentation of letters of guarantee.

With its operation, it ensures exclusively to the beneficiaries of NSRF programs access to an amount equal to the advance payment to which they are entitled. the amund os gradually releosed for the repamente ofa their suppliers’ invoices, withut to need to submit a letter ofa guarade.

The Deputy Minister of Economy and Development Alexis Charitsis, in the presence of the Special Secretary for the Management of Sectoral Operational Programs of the European Regional Development Fund and the Cohesion Fund Eugenia Photoniata, will sign the relevant agreement with the President of the Deposits and Loans Fund, Konstantinos Varlamitis and the President of the Intermediate Body of the Operational Program Competitiveness, Entrepreneurship (EFEPAE) Thomas-Fokionas Algianakoglou, the establishment of the Open Trust Account (Escrow Account), on Monday, December 19, 13:00 at the Ministry of Economy and Development.