The Director of the Special Service of the Recovery Fund, Nikos Mantzoufas, spoke about the Recovery Fund and how it will finance investments in Greece, at the Delphi Forum, which is under the auspices of President of the Hellenic Republic Katerina Sakellaropoulou.
When asked by the editorial director of Vima newspaper Zoi Tsolis about how the Fund will operate, Mr. Mantzoufas stressed that “it aspires to be and will be a transparent program to stimulate investment in Greece.” He added that the country, through the “Fund”, will have to manage 31 billion euros of additional resources that will be controlled, signaling an accountability to society and institutions.
But how will the state run such a large project when it is late to complete its own transformation? Mr. Mantzoufa’s answer was clear: “We know that it is a big bet in which there will be problems, however, we are seeing a tremendous acceleration in the digitization of the state, e.g. in urban planning, in AADE, in the vaccination program “.
He spoke about the transparency that will govern the investment programs of the “Recovery Fund”, saying that the first and last word will have the banks, to which 13 of the 18 billion euros of the Fund have been granted. This money will be circulated by the banks for investment projects, which they will control.
“We give full jurisdiction to the banks that will evaluate the investment because the goal is for the investments don’t end up as dead husks,” he noted.
Finally, he announced that small and medium-sized enterprises will receive at least 1.5 billion in the form of subsidies euros from the Recovery Fund.
Latest News
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction
Greek 30Y Bond Issue Oversubscribed by 11 Times
Very high demand pushed down the coupon's interest rate to 4.125%
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses