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Greek Ministry of Development announces Subsidised Loans for Thomas Cook-affected Businesses

On Monday, 23 December 2019, the Greek Ministry of Development announced that Greek businesses that have been affected by the collapse of Thomas Cook can apply to receive loans at subsidised interest rates.

Greek Deputy Minister of Development, Mr Yiannis Tsakiris, explained that the total budget for the announced loans is € 100 million. The Fund for Entrepreneurship II (TEPIX II) will provide € 40 million, while the banks that are affiliated with the Hellenic Development Bank’s Fund for Entrepreneurship II (TEPIX II) will contribute € 60 million.

Mr Tsakiris further explained that

“The Development Bank’s contracts for these loans are already at the banks for signing and for the application and evaluation process to begin. The loans are for medium, small and micro enterprises, which can receive up to 100 percent subsidized interest rate loans from banks.”

The Scheme’s loan repayment is between two to five years.

NavInvest Greece supports hotel and tourism accommodation investments in Greece, and has extensive experience in due diligence on tourism and property investments. Please contact us for more information relating to hotel and property investments in Greece.

Photo (c) Thomas Cook


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