ECONOMY

Phase 4 of cheap loans may go on

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The fourth phase of the cheap state loans program known as the "Deposit To Be Returned" that is supposed to end on Monday may be extended due to the great interest in it, Finance Minister Christos Staikouras told Mega TV on Saturday.

He reported that by Friday night as many as 380,000 applications for Phase 4 had been submitted online by corporations, personal enterprises and self-employed professionals for loans of 1.9 billion euros in total.

He added that 1.53 billion euros of that has already been disbursed to some 320,000 successful applicants.

Staikouras argued that after the latest disbursements, the liquidity granted to the economy and the enterprises exceeds 䛁illion and stressed the importance of those companies' commitment to maintain all jobs until March 2021 at least.

He added that the fifth phase, whereby just like in the fourth only 50% of the loans will have to be returned, will take place in January.

He did not rule out a new arrangement in 100 and 120 tranches for arrears created due to the pandemic, but noted that any decisions on that matter will have to be made later, depending on the course of the pandemic into next year.