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Economy

Staikouras on Microfunding Bill: Greek Govt Boosting Small Businesses

ATHENS — Finance Minister Christos Staikouras said that the government is working hard to overcome the problems generated by the coronavirus pandemic, while presenting the bill "Framework for microfunding and other provisions" in parliament's plenary on Wednesday.

The minister did however underline that businesses must "take on their share of responsibility for securing jobs, for boosting productivity, competitiveness and the successful transition of the Greek economy to a new model of development," one based on "high-added-value products and services, extroversion and innovation, especially in sectors where Greece has a competitive advantage."

Elaborating on the bill, he said it offers "yet another tool to boost corporate liquidity, especially for small businesses" by allowing them to draw support funds of up to 25,000 euros.

He noted that even though the drafting of the bill began by the previous government it was never implemented. The current version has been improved by taking into account public consultation comments and proposals from opposition parties, the European Central Bank, the Bank of Greece and other institutions, he said.

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