ECONOMY

Staikouras confirms plan for businesses

staikouras-confirms-plan-for-businesses

Finance Minister Christos Staikouras confirmed on Saturday that the government intends to expand the loan repayment tranche subsidy program for mortgage holders, known as “Gefyra” (Bridge), to businesses.

Speaking on Skai TV, Staikouras said the plan to offer a state subsidy for the repayment of corporate loans constitutes a priority for the government and will be submitted to the country’s creditors for approval.

“We have helped society, the solvent and insolvent individuals, for nine months by subsidizing their installments. In 2020 alone we handed out 23.2 million euros toward more than 60,000 loans, and there is more to come,” said the minister. He explained that “what we are about to do now is a similar program for the small and medium-sized enterprises hurt by the health crisis.”

Staikouras went on to note there will also be income and property criteria for eligibility, but the business loans concerned will not be secured against main residences, as in the case of Gefyra.

The minister added that the fifth phase of the cheap state loans program known as “Deposit To Be Returned” will pay out €1.5 billion to up to 400,000 businesses and freelancers.