Eligible for EIB financing are those enterprises that meet the following cumulative criteria:
- They are based, operate, and will invest within the Greek territory.
- They are not active in non-eligible sectors, as described in detail below as "non-eligible enterprises".
- They meet at least one of two eligibility criteria for women's professional empowerment, as described below, and
- Either they are small and medium-sized enterprises and employ fewer than 250 workers, measured in annual work units (AWU).
- Either they are mid-caps that employ between 250 and 3,000 employees, measured in annual work units (AWU).
Ineligible businesses and financing activities are:
The eligibility of interested companies is determined according to the economic activity codes in the EU (NACE), as provided by the EIB to the National Bank of Greece.
Irrespective of the eligibility of the economic activity code (NACE) relating to the main activity, any interested enterprise involved in any of the following activities is not eligible for EIB financing:
- activities related to the production or trafficking of arms and ammunition, explosives, equipment or infrastructure intended for military or police use and equipment or infrastructure which have as their effect the restriction of individual rights and freedom or the violation of human rights,
- activities that may lead to environmental impacts that cannot be largely mitigated or compensated for (including but not limited to, for example, projects in protected areas, critical habitats, and cultural heritage sites),
- activities which may be considered ethically or morally controversial or which are contrary to or prohibited by provisions of national law, e.g. animal testing and research on the cloning of human beings,
- activities prohibited by national legislation (where legislation exists) e.g. genetic modification, abortion clinics, nuclear power, etc.
In addition, and irrespective of the main activity of the undertaking concerned, any income from the following activities must not exceed 10% of the annual income of the undertaking concerned:
- activities aimed at producing or facilitating the use of games of chance and related equipment
- activities aimed at tobacco production, processing, or specialized distribution of tobacco and activities facilitating the use of tobacco (e.g. smoking rooms).
Apart from the above exceptions relating to exempted sectors or activities, financial holding companies whose sole economic activity is to own and manage portfolios of equity holdings and/or investments in other companies are not eligible.
Eligibility criteria relating to the professional empowerment of women:
For a business to be included in this funding program, the business declares that it supports the professional empowerment of women and meets at least one of the following two criteria, namely:
α) Women's business leadership:
More than 50% of the executive management of the company is made up of women and, where there is a Board of Directors/Investment Committee of the company, more than 50% of the Board of Directors/Investment Committee is made up of women, or
b) Women's entrepreneurship:
Women own more than 50% of the shares of the company and participate more than 50% in the executive management of the company.
