7.6-billion-euro package to enhance SMEs access to liquidity

Small and medium-sized enterprises (SMEs) person entree to an “immediate liquidity pool” of astir 7.6 cardinal euros, enabling them to instrumentality concern projects and unafraid the indispensable working superior for their day-to-day operations.

This liquidity is provided done grants under NSRF backing programmes and the improvement law, done tax exemptions besides provided under the improvement law, done loans from the Hellenic Development Bank and cooperating commercialized and cooperative banks, arsenic well arsenic done backstage equity information by funds managed by the Hellenic Development Bank.

First and foremost is financing from the Hellenic Development Bank, which either already has progressive financing tools successful spot oregon is expected to activate caller ones successful the contiguous future, amounting to a total of 4.4 cardinal euros. However, these funds could summation by astir 50% should the slope get pillar appraisal certification and person a transfer of 2 cardinal euros from the Recovery and Resilience Facility (RRF).

Alternate Minister of National Economy and Finance Nikos Papathanasis revealed successful a caller exclusive interrogation with “N” that the pillar appraisal is considered highly likely. The transfer of 2 cardinal euros to the Hellenic Development Bank, combined with banking leverage, could make financing resources approaching 8 cardinal euros. Whether the certification will ultimately beryllium granted is expected to go known by the extremity of August.

In the lawsuit of a affirmative outcome, a very substantial backing excavation will go available for SME financing, either done indebtedness funds oregon warrant schemes. It should beryllium noted that the financing instruments of the Hellenic Development Bank are addressed exclusively to SMEs.

Second successful terms of available financing are the schemes under Development Law 4887/2022, arsenic two progressive schemes presently supply available backing — including grants, subsidies and tax exemptions — totalling 300 cardinal euros. Additional schemes targeting SMEs are besides expected to beryllium launched successful the adjacent future.

Within the model of the NSRF, the main financing programme for SMEs, the Operational Programme “Competitiveness 2021–2027” is nearing afloat allocation, arsenic astir the full fund of astir 3.9 cardinal euros has already been committed. Nevertheless, applications stay unfastened for two backing programmes with a combined fund of 120 cardinal euros.

Meanwhile, the Hellenic Development Bank of Investments, done 42 caller venture superior and backstage equity concern schemes, has made available a total of 2.75 cardinal euros for investments successful SMEs via equity information funds.