July 5th 2022 ∙ 3 min read

In the context of the National Recovery and Resilience Plan "Greece 2.0", National Bank of Greece supports your business and contributes to the implementation of your business plans with "NBG 2.0", a program of co-financing in the form of a Loan through the Recovery and Resilience Fund (“RRF Loan”) and an NBG funded Loan (“Co-financing Loan”), on favourable terms for all financing.

The RRF’s resources, amounting to over €31 billion, will be channelled through loans or grants under favourable terms applicable to eligible investment plans. Of this amount, €12.7 billion is reserved for the RRF's lending program, to be made available through the domestic financial system and European financial institutions.

The coverage of the total eligible investment cost of the financed investments will result from a maximum of 50% from an RRF Loan, at least 20% from the business's own participation, and at least 30% from a Co-financing Loan from NBG.

Eligible investment plans must fulfil the criteria of at least one of the following five (5) Pillars of the RRF loan program. The percentage of the RRF Loan is determined by the percentage of the spending budget that falls under each Pillar of the program (as per the eligibility criteria set out in Article 3 of the Ministerial Decision):

A. Green transition
B. Digital transformation
C. Innovation, research & development
D. Development of economies of scale through partnerships, acquisitions and mergers, and
E. Extroversion.

RFF investment project financing proposals are submitted through the Go Beyond interbank platform and are assessed for viability by NBG, in accordance with the Bank's current credit policy and internal procedures. Their evaluation in terms of eligibility, as well as the determination of the percentages of the RRF Loan and the Co-financing Loan on the total investment cost, are carried out by an Independent Appraiser, who is selected by draw from a list of auditors/ appraisers prepared by the Recovery and Resilience Facility Agency. The fee of the Independent Appraiser is paid by the owner of the investment based on the amount of the investment plan.

The costs incurred for the investment plan from the submission of the proposal onwards, are eligible for funding from the RFF and are part of the co-financing program.

The eligibility of expenses is broad and includes the usual expenses of acquisition and use of fixed assets, while under certain conditions expenses arising from the acquisition, use and landscaping of land, from payroll, travel, third party services, consumables and operating expenses, capital, working capital, promotion and communication may also be included.

You can utilize the advantages of the program "NBG 2.0." through a full scale proposition for every stage of your supply chain, aiming to upscaling your transactional cycle. Experts from Corporate Transaction Banking support your Company in evaluating your needs and providing you with designated solutions to your business.

In this context, we provide targeted solutions for the issuance of Letters of Guarantee and Letters of Credit, for financing Claims and Capital financing as well as full scale digital solutions available through Corporate Internet Banking, providing:

• management and execution of Trade transactions (individual and mass) and Letters of Credit, as well as issuance and management of Letter of Guarantee, through i-bank Trade Finance platform
• management of your Debt Portfolio, in cooperation with NBG Factors, via E-factoring digital platform
• Foreign Currency Transactions in real time, via digital platform i-FX

The deadline for the disbursement of RRF Loans is 26 August 2026 or until resources are exhausted.

You can find more information on eligible investment projects and eligible investment expenses, the process of submitting proposals for the financing of investment projects by the RFF, as well as the fee of the Independent Appraiser in the Call for Proposals, which is posted on the Bank’s website (www.nbg.gr), or consult NBG's experienced officers.

Socrates Palaiokrassas 
Head of Infrastructure Funds, Business Support Sector
Business Development & Support Division
Corporate and Investment Banking

Rea Polychronaki
Head of Trade and Working Capital Solutions
Corporate Transaction Banking
Corporate and Investment Banking