The four systemic banks announced the calls for interest to businesses to submit investment plans, evaluation and financing, from the Recovery Fund. Already, Eurobank, Alpha Bank, Piraeus Bank and NBG have prepared the strategic plans and continue informative presentations to customers.

Banks, in fact, play the role of financial intermediary that will evaluate investment projects. These will be financed by the Recovery Fund up to 50%, the own contribution will reach 20%. The remaining 30% will be covered by bank financing. Through the Recovery Fund, the country has secured for the period 2021/26 European resources amounting to almost €31.16 billion. euros. Of these €18.43 billion euros relate to subsidies and 12.73 billion euros in loans.

Overall, investments are expected around EUR 27 to 32 billion euros. The financing needs generated by these investments are expected around EUR 20-25 billion. euro. Of these at least €18 billion euros προέρχονται από τις επιδοτήσεις και τα δάνεια από το Ταμείο Ανάκαμψης. Ταυτόχρονα, μέχρι το 2026 που ισχύουν οι υπολογισμοί αυτοί, δημιουργούνται επιπλέον ανάγκες χρηματοδότησης λόγω πολλαπλασιαστή του Ταμείου by €6 billion euros. To these should be added an additional EUR 9 billion euro from the rise of the economic cycle.

Consequently, the overall credit growth that it is estimated at EUR 25 billion. euros by 2024 and may reach EUR 33 billion. euro until 2026 it is claimed by the four systemic banks, which are seeking shares of 25-30%.

For 2022, the Recovery Fund is expectedto €1.5 billion euros that can finance investments of €3 billion euros, of which 500 million up to €1 billion euros is expected through bank lending.

Eurobank Recovery Fund

As stated in a presentation by the Deputy CEO, Head of Corporate & Investment Banking of Eurobank, Mr. Konstantinos Vassiliou, the sectors of the economy that will star are those of tourism, shipping, energy, infrastructure, real estate and industry and manufacturing. He also referred to Eurobank's commitment to contribute to the establishment of sustainable development, aiming at in disbursements of more than €5.5 billion euro over the next three years, 50% of which will be directed to companies that integrate strong ESG criteria into their design. In these sectors, total investments of €32 billion euros broken down as follows:

• 4 billion euro in tourism
• €10 billion euro in shipping
• €6 billion euro in energy
• 5 billion euro in infrastructure including privatisation
• €3 billion euros in real estate
• 4 billion euro in industry and processing

The total financial needs that will be required are calculated to EUR 25 billion. euro.

Alpha Bank Recovery Fund

According to a presentation by Alpha Bank, the subsidies of the Recovery Fund amounting to around €18 billion euros will mobilize investments of €7 billion euros, while the Fund's loans of €13 billion euro will mobilise investments of €19 billion euro. In this context, the Bank has announced total lending of more than €10 billion euros in three years.

The General Manager - Wholesale Banking of Alpha Bank Ioannis Emiris stated that "Alpha Bank has disbursed within the last two years more than €10 billion euro to the Greek economy, remaining on the side of entrepreneurship and supporting any initiative that is synonymous with progress and change. The co-financing with the Development and Resilience Fund is the continuation of the "thread" that connects Alpha Bank with the consistent and effective horizontal support of the Greek economy for decades".

Piraeus Bank

At the informative event with the participation of more than 500 Piraeus Bank customers, on the occasion of the launch of the process of submitting investment plans for financing by the Recovery Fund, the CEO of Piraeus Bank, Mr. Christos Megalou, among others, stated that "the banking system, having largely overcome the systemic problems of the past, is able to productively support the financing of the economy and the business world, having coped with the Double test of the ten-year economic crisis and the pandemic, Not only has it proven that it can successfully face challenges, but is also more powerful." As stated by Mr. Megalou in another speech, the Group's planning foresees funding of €20-23 billion euros for the period 2020/24. Last year, it surpassed the a target of €5.7 billion euros This year, too, disbursements are estimated at more than EUR 6.5 billion. euro.

National Bank of Greece

NBG and its CEO, Mr. Pavlos Mylonas in presentations and speeches has pledged to support the Recovery Fund and finance the Greek economy with loan disbursements of more than €5 billion euro every year until 2023. According to data presented in presentations by NBG and the General Manager of Corporate and Investment Banking, Vassilis Karamouzis, the funds of the Recovery Fund finance and are allocated to specific actions:

• Green transition: 25%
• Digital transformation: 50%
• Innovation, research and development: 12.5
• Growth of economies of scale through partnerships, acquisitions and mergers: 12.5%

As mentioned in a presentation by NBG on the National 2.0 plan and the Recovery Fund, subsidies are also foreseen, mainly for smaller businesses, such as, for example, in the case of development of extroversion and digitalization, where, under certain conditions, they can cover expenses and working capital. Also, the aid from the Recovery Fund is compatible with those of the new development law or other programs, such as the NSRF, so they can be used in combination.

Banks, in addition to the assessment, will offer advice. This will make maximum use of existing programs, and will also ensure the proper preparation and submission of business plans.