Greece is set to make €2 billion from its Recovery Fund loan program available through the Hellenic Development Bank (HDB) to support small and medium-sized enterprises (SMEs), following the revised “Greece 2.0” plan expected to be approved by the EU’s Economic and Financial Affairs Council (Ecofin) on 12 December. The government will transfer €2 billion from the country’s total €17 billion allocation under the Recovery. Low-interest loans will be provided in cooperation with commercial banks, ensuring access to finance for Greek SMEs. For this plan to proceed, HDB must complete the “pillar assessment” required by the EU, evaluating nine key areas including accounting, internal controls, financing programs, and data protection. Once approved, HDB will gain the capacity to directly manage EU funds, currently handled by European development organizations such as the European Investment Bank (EIB). The revised “Greece 2.0” plan also proposes reducing the sixth and seventh loan installments to €320 million and €1.3 billion respectively, down from €1.9 billion each. Greece plans to submit a joint request for these installments before the end of 2025 (ICE ATENE)

Fonte notizia: Insider