The total budget of the 291 investment projects submitted to the loan section of the National Recovery and Resilience Plan “Greece 2.0” in 2022 amounts to 10.53 billion euros, as announced by the Ministry of Finance.
Of this 10.53 billion euros, 4.5 billion euros correspond to loans from the Recovery and Resiliency Fund (RRF), 3.51 billion euros to bank funds and 2.52 billion euros to equity participation of investors.
The above projects are in various stages foreseen in the framework of “Greece 2.0” (e.g. pre-approval, evaluation, approval, contracting) and concern different sectors of the economy (industry, retail trade, power generation investments – RES, telecommunications , tourism and services).
It should be noted that of the 291 investment proposals, 167, amounting to 2.25 billion euros, come from small and medium-sized enterprises.
68 loan agreements
Already, from all the projects, 68 loan contracts have been signed (until 30.12.2022), with the budget of the same number of investment projects amounting to 3.22 billion euros. Of this amount, 1.20 billion euros correspond to RRF loans, 1.28 billion euros come from commercial banks and the remaining 741 million euros are the same participation of the investors.
The weighted average interest rate of the above loan agreements is 1.2% and the average loan repayment period is 11 years.
The Deputy Minister of Finance, Mr. Thodoros Skylakakis, said: “The loan part of the National Recovery and Resiliency Plan is an extremely successful development tool, as shown by its implementation data. Strong interest is registered from the investment community, as within a six-month period (the first loan agreement was signed on 30.6.2022) 291 proposals were submitted, with a total budget of more than 10.5 billion euros, while the investments are dispersed, geographically, in over 100 municipalities throughout the country. In fact, the loan contracts that have been signed include many industrial and tourist investments, which contribute, catalytically, to the stimulation of local economies, while the specific tool also plays a very important role in the green energy transition. Being the biggest and fastest investment tool the country has ever had, the loan part of the Recovery Fund has many more possibilities, since it can cover investment projects, totaling approximately 30 billion euros.”
Latest News
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted
Yannis Vardinoyannis Assumes Post of Motor Oil Board President
He succeeds his father, Vardis, who passed away last week at the age of 91
PM Mitsotakis to Bloomberg: Our Majority Is Stable, Elections To Be Held in 2027
"The government has a solid 2.5-year mandate from the people to implement its policies," Mitsotakis stated