The Action aims to enhance business extroversion and competitiveness of SMEs. This involves supporting investments that leverage modern technologies, enhance products and services, and facilitate participation in international trade fairs within and outside the EU.

Action in detail

The public expenditure for the Action amounts to €200,000,000 and is allocated as follows: 

  • €44,000,000 for Regions in Transition: Attica and South Aegean
  • €156,000,000 for Less Developed Regions North Aegean, Eastern Macedonia – Thrace, Central Macedonia, Epirus, Thessaly, Western Greece, Crete, Western Macedonia, Ionian Islands, Central Greece, Peloponnese.

The subsidized budget of each investment project can range from €80,000 to €200,000. 
In the event of investment plans with a budget over the threshold as set out above, the excess amount will be deemed a 100% private participation for the implementation of the plan. In this case, although the excess cost is not subsidized, the investment project in its entirety, including the excess cost, is subject to assessment and monitoring-control.

 

Existing micro, small and medium-sized enterprises (MSMEs) which, prior to the electronic submission of the funding application, must meet the following conditions:

  • They must have at least one (1) fully-closed financial year (i.e. 12-month ongoing business activity)
  • They are substantially active (Main Activity Code or Activity Code with the largest revenues) in one (1) eligible Main Activity Code at the time of electronic submission of the funding application
  • They are availed of the eligible investment Main Activity Code(s) 
  • They have at least one (1) AWU (Annual Work Units) of employees in the calendar year prior to the date of submission of the financing application 

They operate exclusively under one of the following forms of business:
Société Anonyme, Single-Member SA, Limited Liability Company, Single-Member Limited Liability Company, General Partnership (O.E.), Limited Partnership (E.E.), Single Member Private Capital Company (MIKE), Sole Proprietorship, Civil Profit Company, Social Cooperative Enterprise under Law 4430/2016, as in force, or Cooperative.

 
  • To boost the exports of the aided enterprise by at least 70% of the public cost of the operation, compared to the exports of the base year (tax year 2024). This increase must be achieved within three years of the operation’s completion at the latest;
  • To submit one and only funding application per TIN under this Action;
  • To declare as project implementation location(s) of this Action only one category of region. The funding application shall state the region in which the investment plan will be implemented. It is clarified that the enterprise may carry out expenditure at the company's headquarters and/or its branches, provided that all implementation points belong to the same category of region;
  • To present evidence that Own Participation in the proposed investment plan has been secured at a rate of least 25% of the total budget;
  • To undertake that the expenditure included in this funding application will not be, and has not been, funded, included or submitted for approval for funding in another program financed by national or EU funds;
  • To have completed or fully implemented the physical object of the investment before submitting the funding application;
  • Co-location of enterprises is not permitted in order to avoid use by another enterprise of the equipment of the aided investment. The term “co-location” means the establishment of the aided enterprise in the same, non-discrete premises alongside a different enterprise. If the co-location of enterprises allowing for use of the aided investment equipment by another enterprise is ascertained, the aid inclusion decision shall be revoked.
  • Applications that indicate that the place of implementation of the investment is the place of residence (main or secondary) of the beneficiary will be rejected.
 

The main expenses covered by the Program relate to:

  • Costs of Equipment, Means of Transport & Instruments 
  • Expenses for the provision of services
  • Software Costs
  • Promotion and Networking

In addition, the following expenses are also funded:

  • Salary costs for newly hired staff
  • Indirect costs.

The eligible costs are detailed in the Call File.

 
The maximum aid rates for funding applications are the same for all eligible costs of the investment plans and range from 40% to 50% of the subsidized budget, depending on the category of region where the project is implemented.
What we do for you

Communicate today with your (Business Banking RM) and get informed about our financing products and the tools we offer for the implementation of your development plans.

During the implementation phase of the investment through the program:
  • Coverage of part of the private participation, with the appropriate financial instrument
  • Bridge Financing
  • Issuance of an Advance Letter of Guarantee
 

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Manage the daily transactions and banking needs of your business easily and quickly, wherever you are.

View all of your business’s products, make transfers and remittances, pay bills, personalize your home screen according to your needs and manage all approvals, online, from your mobile.


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