National Recovery and ResiliencePlan “Greece 2.0”

The National Recovery and Resilience Plan includes an integrated and coherent set of reforms and investments structured in four (4) Pillars that make up eighteen (18) components

Pillars and Components

1. Green transition

2. Digital Transformation

4. Private Investments and Transformation of the economy

1.1 Power up
1.2 Renovate
1.3 Recharge and refuel
1.4 Sustainable use of resources, climate resilience and environmental protection

2.1 Connect
2.2 Modernise
2.3 Digitalisation of Businesses

3.2 Education, vocational education and training, and skills
3.3 Improve resilience, accessibility and sustainability of healthcare
3.4 Increase access to effective and inclusive social policies

4.1 Making taxes more growth friendly and improving tax administration and tax collection
4.2 Modernise the public administration, including through speeding up the implementation of public investments, improving the public procurement framework, capacity building measures and fighting corruption
4.3 Improve the efficiency of the justice system
4.4 Strengthen the financial sector and capital markets
4.5 Promote research and innovation
4.6 Modernise and improve resilience of key economic sectors
4.7 Improve competitiveness and promote private investments and exports

Loans from Recovery and Resilience Fund

With funding from the NextGenerationEU fund, the Recovery and Resilience Facility will make €12.7 billion available in loans.

The 5 pillars of the RRF loans

The Recovery Fund loans will cover up to 50% the cost of the business plan and are directed to investment projects that fall into five sectors:

1. Green transition

2. Digital Transformation

3. Extroversion

4. Innovation - research and development

5. Business scale up

While the business’s private participation will cover at least 20% of the total eligible investment cost. At least 30% of the total eligible cost of the investment plan will be covered by a Co-financing Loan.

Eligible costs

1
Land Purchases, Lands for use (depreciation / lease)
2
Buildings purchase / construction, Buildings use (depreciation / lease)
3
Equipment purchase / construction, Equipment use (depreciation / lease)

1
Means of transport purchase, means of transport use (depreciation / leases)
2
Intangible purchase / construction, Intangible use (depreciation / subscriptions)
3
Payroll linked to the investment plan

1
Travel / expenses
2
Third party services
3
Functional (communication, energy, maintenance, rents, administration costs, insurance, etc.)

1
Consumables
2
Cost of capital
3
Working capital (operating expenses, expenses related to the business transaction, VAT, etc.)
4
Promotion and communication costs (Marketing)

Investment plan eligibility criteria

Green transition

Digital transformation

Innovation, research & development

Business scale up

Extroversion

Green transition investments that contribute to the green tagging of NRRP correspond to at least 20% of the total budget of the Eligible Investment.

Digital transformation investments that contribute to the digital tagging of NRRP correspond to at least 10% of the total budget of the Eligible Investment.

Eligibility coverage of at least one Innovation – research & development Index (as specified in article 4 of the Ministerial Decision on Eligibility Criteria) and at the same time minimum budget of innovation – research & development investments of at least 10% of the total budget of the Eligible Investment.

Existing or new partnership, or establishment of a new entity as a result of a merger / acquisition. Partnership is an activity governed by long-term (with contractual or actual term longer than 5 years) binding partnership agreements between non-affiliated companies with a view to promoting jointly their business activities, or through the establishment of legal entities with the same objectives (joint ventures, cooperatives, organizations and groups of producers irrespective of their legal form, inter alia).

The eligibility of the investment plans is alternatively determined through: a. The average of the investor’s current export activity reaching at least 15% of its turnover. The investor’s financial data of the last three financial years are reviewed, or alternatively the percentage of the turnover corresponding to transactions though foreign credit cards or remittances. b. Minimum export budget of the investment plan reaching at least 15% of the projected total income arising from the investment plan (viability study). On a separate basis, investment plans that include tourist accommodation, complex tourist accommodation, and tourist residential complexes with at least 5 independent tourist residences are de facto eligible.