Over 380 investment projects submitted for Greece 2.0 funding

Over 380 investment projects submitted for Greece 2.0 funding

A total of 381 investment plans, with a combined budget of 12.12 billion euros, have been submitted to the National Recovery and Resilience Plan, Greece 2.0, the Finance Ministry said in a report on Thursday.

The ministry noted that, if they are all approved, of that budget, loans from the Recovery and Resilience Fund would come to €5.02 billion, bank capital would account for €4.03 billion and the owners of the plans would pay €3.07 billion out of their own pocket.

These investment plans cover different sectors of the economy (industry, retail commerce, electricity production, renewable energy sources, telecommunications, tourism and services).

A total of 106 loan contracts have been signed, with a budget of €5.2 billion (€2.1 billion from the RRF, €1.8 billion from banks and €1.3 billion own capital).

The average weighted interest rate of the loans is 1.8%, with an average repayment duration of 12 years. Out of the 381 investment plans, 230 have been submitted by very small, small and medium-sized enterprises, with a total budget of €2.73 billion.

Alternate Finance Minister Thodoros Skylakakis said the loans received from the Recovery Fund are the largest financing tool the country has ever had and have motivated investors because of the favorable lending terms in a period when interest rates are on the rise globally.

Greece 2.0 is being implemented rapidly and is addressed to anyone willing to invest.

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