Projects worth over €10.5 billion submitted for RRF funding in 2022

Projects worth over €10.5 billion submitted for RRF funding in 2022

A total of 291 investment projects with a combined budget of 10.53 billion euros were submitted for financing from the loan arm of the “Greece 2.0” National Recovery and Resilience Plan in 2022. 

Of this amount, €4.5 billion corresponds to loans from the Recovery and Resilience Facility (RRF), €3.51 billion was capital from banks and €2.52 billion were funds put up by investors. 

Alternate Finance Minister Thodoros Skylakakis noted that “strong interest from the investment community has been recorded as, within six months, 291 proposals have been submitted while the investments are scattered, geographically, in more than 100 municipalities throughout the country.” 

The investment plans submitted so far are in various stages of the process of receiving funding and concern many different economic sectors, from industry and retail to energy and services. More than half of the proposals, or 167 in total, amounting to €2.25 billion, were submitted by small and medium-sized enterprises. 

So far, the process has been finalized with the signature of loan contracts for 68 investment plans, with a total budget of €3.22 billion, of which €1.2 billion are from the RRF, €1.28 billion are from banks and €741 million from investors. The loans have an interest rate of 1.2% and an 11-year repayment period, on average.

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