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Athens News Agency: News in English, 06-08-21

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Subsidized interest rates for SME loans

  • [01] Subsidized interest rates for SME loans

    The Greek government will begin a programme on subsidising borrowing interest rates for small- and medium-sized enterprises from September 1st, Development Minister Dimitris Sioufas said on Monday.

    Presenting the programme, Sioufas said the programme would run by the end of 2008 and would include around 2,500-3,000 enterprises, while he stressed that more funds would be earmarked under a Fourth Community Support Framework programme.

    The programme will cover enterprises with a workforce of up to 20 persons and self-employed with an annual turnover of 10 million euros. Under the programme, the government will subsidize 50 percent of interest rates on loans and leasing contracts on the precondition that loans would be used for development-modernisation investments.

    The Greek minister said that only 20 percent of Greek SMEs sought borrowing from banks to cover their financial needs, a rate smaller compared with the EU average.

    The Development ministry has set up a commission to monitor bank interest rates on corporate loans.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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