Alpha Bank: The bank’s strategy for financing businesses from the Recovery Fund is in full swing

Alpha Bank emphasizes the utilization of the loan funds of the Recovery and Resilience Fund (RRF) by its client companies, one month after the publication of the relevant call for applications for financing by the RRF.

In this context, in order to better prepare companies to receive preferential lending, Alpha Bank is implementing, as it has announced, an organized action plan to better inform potential investors, while, in a specially designed section on its website, it has published the relevant call for funding applications from the RRF. The invitation provides the interested parties with detailed information about the whole framework of the program, as well as instructions for the preparation of the application dossier.

Where are the loan funds directed?

The loan funds are directed to the financing of eligible investments that fall under the following five thematic pillars of the EESA: Green transition, digital transformation, innovation – research & development, development of economies of scale through partnerships, acquisitions and mergers. Eligible investment projects are financed both by RRF resources and by co-financing loans from the banking system. The maximum financing from the resources of the RRF is set at 50% of the eligible investment plan, with the participation of the banks being set at at least 30% and the investors at at least 20%. The disbursement of the available funds of the RRF for the implementation of the eligible investments should be completed by August 26, 2026. The action is implemented within the National Recovery and Sustainability Plan “Greece 2.0” with the funding of the European Union – NextGenerationEU.

As emphasized by Alpha Bank, business support is provided through a comprehensive package of services at every step of the process with information, consulting, technical support, and the appropriate banking and non-banking products. In this context, a group of specialized executives has been created who have been trained in the actions of the TAA and serve the companies, both through its branch network and from its central units. The Alpha Bank TAA team, among other things, informs the potentially eligible companies about the TAA’s actions, proposes the most appropriate financing program for the business plan of each company and provides consulting banking and technical support, together with its strategic partners, from the elaboration. of the business plan until its financing and implementation. It also rapidly evaluates funding applications and supports the approval procedures of the business investment plan by the TAA.

Ten billion euros in funding in the last 2 years

Alpha Bank, according to data it has published, provided new loans of around 5 billion euros in 2021, from the smallest company to the most emblematic investments. Examples include the organization of long-term financing on Olympia Odos (Patras – Pyrgos extension), the development of Peloponnese Waste Management Units, the financing of Astir Palace and the investment program of five hotel units acquired by Blackstone in Greece, sustainability and urban development projects the image of cities, such as the Piraeus Tower, the historic building of Minion but also numerous financing of medium and small enterprises that are active in the critical sectors of the economy as well as in emerging sectors of business activity. At the same time, Alpha Bank assisted its clients in raising 3 billion euros, from the Greek and international capital markets, and advised on important agreements, such as the development of the Egnatia Odos and the finding of investors for DEPA Infrastructure.

As Alpha Bank General Manager of Wholesale Banking Ioannis Emiris has pointed out, Alpha Bank has disbursed more than 10 billion euros to the Greek economy in the last two years, remaining on the side of entrepreneurship and supporting any initiative that is synonymous with progress and change. Alpha Bank, as he underlines, supports the companies in their further growth and modernization, acting not only as their lender, but as their essential companion and advisor.