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GreeceBusinessDEF IX - Papathanasis presents Greece's developmental tools

DEF IX – Papathanasis presents Greece’s developmental tools

Hellenic News of America
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Funds amounting to 4.0 billion euros have been allocated specifically for small and medium entrepreneurship, Alternate Minister of National Economy and Finance Nikos Papathanasis said on Friday at the Delphi Economic Forum IX.

Papathanasis said that the country’s developmental tools are the Recovery Fund, with 36 billion euros (18 billion euros in loans and 18 billion euros in subsidies), the NSRF, with 26 billion euros for small and medium sized enterprises, the Common Agricultural Policy with 19 billion euros and the National Programme with 14 billion euros.

According to Papathanasis, the subsidy programmes under the Recovery Fund include, among others, the “Spyros Doxiadis” programme for women’s pre-cancer screening, photovoltaic panels in the field, energy savings programmes for households and the programme of agricultural development for manufacturing.

Papathanasis made special reference to the new TEPIX III programme for small and medium-sized enterprises. State guarantees are given for up to 80% of the loan and the interest rate is subsidised by 2 percentage points. Whereas, if the interested party chooses the interest subsidy pillar, 40% of the loan is interest-free and the remaining 60% is subsidised with 3 percentage points.

He also underlined that Greece is the first to reduce its debt as a percentage of GDP, while this year’s primary surplus will cover the country’s loan payments. At the same time, he stated that he is confident that the goal for Foreign Direct Investments in the country will be achieved.

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