Will investment plans of €4 bln get lost?

Investment projects worth astir €4 cardinal that were thought to person secured financing done the Recovery Fund (RRF) whitethorn not proceed owed to a deficiency of funds.

These are ample vigor projects, tourism and commercialized projects oregon existent property plans by large-cap companies that, while they rushed to submit a implicit financing petition by the extremity of May, will ultimately not beryllium included successful the RRF, arsenic its resources are moving out.

The occupation of the Recovery Fund was already evident from the extremity of 2025. 

At that time, the Finance Ministry, seeing that there were delays successful the absorption of the Fund’s indebtedness resources and successful view of the revision of the program, decided to transfer astir €2 cardinal to the Hellenic Development Bank, to forestall the nonaccomplishment of those funds.

It besides decided to bring guardant the deadline for submission and support of backing applications, three months earlier from the extremity of August to the extremity of May.

This alteration acted arsenic an alarm awesome for banks and businesses, which rushed en masse to fastener successful the inexpensive RRF financing earlier the deadline. 

The effect was that requests were submitted within a abbreviated play of clip that were galore times the available funds, so that today a important fig of concern projects are excluded from financing.

According to slope estimates, the further projects submitted interest loans of €4 billion, an magnitude astir twice arsenic precocious arsenic what was available.

“We person changed neither the magnitude nor the rules,” a ministry source told Kathimerini, pointing the digit astatine the banks that cultivated successful their customers, arsenic helium claims, “expectations for financing that were overmuch greater than the existent funds available.”

Banks cull the disapproval that they raised excessive expectations, countering that these projects had been pre-approved and were submitted within the predetermined deadline. 

The banking sources adjacent speak of “indifference connected the portion of the state toward the concern community,” which was forced to wage precocious consulting fees of up to €100,000 successful bid to conscionable the deadline, without ultimately being capable to payment from the financing.