Funds worth 3.0 bln euros channeled to Greek economy through Juncker Plan

Funds more than 3.0 billion euros are immediately channeled to the Greek economy throung a Juncker Plan and the activation of new funding tools, according to a plan drafted by Economy ministry.

Economy Minister George Stathakis, in a recent speech in Parliament, said that funds worth 533 million euros from European Investment Bank earmarked for projects budgeted at 854 million euros have been included in a Juncker Plan, ranking Greece sixth in exploiting the Plan.

EIB has also approved funds worth 60 million euros to ProCredit and another 100 million euros to National Bank to be offered as loans to small- and medium-sized enterprises, while EIB announced the signing of credit facilities with National Bank, Eurobank and Pancretan Cooperative Bank offering funds worth 545 million euros to SMEs.

Funds approved in the framework of Juncker Plan total 1.238 billion euros, of which 700 million referred to loans to SMEs. The Economy ministry expects the signing of new agreements worth 1.0 billion euros soon.

Greece and Italy agreed to draft a joint plan to support SMEs, during a recent visit by Economy Minister George Stathakis to Rome.

Three new funding tools are expected to be activate by the end of the year. A Fund of Funds, with funds worth 400 million euros, a “New Save” program with funds worth 500 million euros and a new Entrepreneurship Fund with funds worth 1.0 billion euros.