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Politics

Skylakakis Addresses Call to Investors to Make Use of Recovery and Resilience Fund

ATHENS – Alternate Finance Minister Thodoris Skylakakis addressed a call to investors to take advantage, in time, of the loan tool of the Recovery and Resilience Fund, as long as interest rates are as low as they are today (0.35% for very small and small businesses and 1% for medium and large ones), at an event on the “Opportunities and Prospects of ‘Greece 2.0”, held in Rhodes.

Referring to the innovations that characterize the loan part of “Greece 2.0”, he pointed out: “It has some characteristics that have never existed in an investment instrument in Greece, nor in any other European country. Ministers from other European states (e.g. Lithuania) are asking for the know-how to do something similar in their country. A new element in this investment tool is that the investment decision is made when the company submits the complete plan, while within 2.5-3 months it has signed a contract with the Bank and received the money provided for in this contract. Another innovation is that in this particular process there is no signature of a public official or a politician, from the time the company submits the plan until it receives the money.”

Skylakakis emphasized that this is a tool that can accommodate investment plans totaling 30 billion euros. So far, proposals have been submitted, with a budget of 8.22 billion euros, of which projects amounting to 1.8 billion euros have already been contracted, while the rest will be contracted within the next 3-4 months.

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