1st Action Green Transformation of SMEs

In the context of the new "CADF 2021-2027", 1st Action - Green Transformation of SMEs aims to strengthen Businesses that want to make use of modern technologies, to upgrade the products produced and/or the services provided by rewarding actions that make use of modern technology, infrastructure and to develop best practices in matters of energy upgrading and circular economy.

Please note that you may only submit a funding application for one of the two Actions within the 'Green Transition SME' pillar.

The total budget - public expenditure amounts to €300,000,000, which is distributed by Region as follows:

Attica & South Aegean Regions: €66,000,000
Other Region areas: €234,000,000.

Action in detail

Subsidised budget

The Subsidised Budget of the business plans to be submitted can range from €200,001 to €1,000,000

Beneficiaries of actions

Beneficiaries of aid from 1st Action are Very Small, Small, and Medium Enterprises which, among other things, should:

have closed at least one (1) full management year,
are active in at least one (1) eligible ACN (Activity Code Numbers) and have the eligible investment ACN(s) listed in Appendix III of the notice
and to
have at least three (3) AWU (Annual Work Units) of dependent work during the calendar year preceding the submission of an application.

It is important to note that the investment project should not commence before submitting the funding application.

Eligible expenses

Expenditures eligible for the action are, for example, expenses for:

Buildings, facilities, and the surrounding area
Machinery – Equipment (Contractual Expenses)
Equipment (GREEN)
Certification of Products - Services - Processes
Packaging Design – Label – Branding Services
Advertising and Outreach Expenses
Participation in trade fairs
Technical Studies & Consulting Services
Means of Transport (GREEN) – Mandatory electric
Salary cost of new employees – (new staff from 1 to 3 AWU)
Indirect costs

The start date of expenditure eligibility is defined as the date of electronic submission of the funding application.

Subsidy rates

The percentage of Public Funding (subsidy) is up to 40% of the subsidised budget of the funding application, except for the exceptional cases (West Sector of Athens, East Attica, West Attica, Piraeus Islands) that follow Regulation EU 651/2014 (article 14), whose percentages are described in detail in the Call. The rate may receive an increase of 10%, provided that "Green Transition" costs of at least 20% of the total eligible budget of the investment plan are realised and certified at the time of Inclusion

Application process & dates

The application period has started from Wednesday, 22.03.2023 and will be open until the budget for each Region category is exhausted. The candidate potential beneficiaries must submit the funding application electronically through the Integrated Information System for State Aid Management (IISSAM), using the Funding Application Form standardised in IISSAM.
The maximum duration of completion of a physical and financial object cannot exceed twenty-four (24) months from the date of issuance of the Incorporation Decision.

Aid regime: GSA and De Minimis

The Action provides the option of choosing an aid regulation based on EU Regulation 651/2014 (GSA) or EU Regulation 1407/2013 (De minimis), as applicable. The company can choose one of the two regulations for submitting the financing application. The selection is mandatory for submission.

REQUESTS FOR FUNDING WITH THE ASSISTANCE STATUS OF REG. EU 1407/2013 (DE MINIMIS)

The total amount of de minimis aid received in the past by the single undertaking, including assistance from this Action, must not exceed the amount of €200,000 (or €100,000 for the road freight transport sector on behalf of third parties) in any period of three financial years (current financial year and the two (2) previous financial years) before the time of granting the legal right to the aid. When the previously defined upper limit is exceeded, by granting new de minimis aid, no part of said further assistance may benefit from the regulation.

REQUESTS FOR FUNDING WITH THE ASSISTANCE STATUS OF REG. EU 651/2014 OF THE COMMISSION OF 17 JUNE 2014 (EL L 187/26.6.2014)

It is pointed out that the investment projects that will be submitted with the selection of the financing regime of the EU Regulation. 651/2014 (GSA), and only those that will make use of Article 13, "Scope of regional aid," and Article 14, "Regional investment aid," should have the character of an initial investment and specifically meet one of the following conditions:

Creation of a new business establishment.
Expanding the capacity of an existing unit. The additional capacity of the plant due to the investment plan can only be accepted if the plant's current capacity can be certified by official documentation.
Diversification of the production of a plant into products or services that have never been produced in it, provided that for aid granted to large enterprises or SMEs to diversify an existing plant, the eligible costs exceed at least 200 % of the book value of the reused assets, as registered in the financial year preceding the start of operations.
Fundamental change of the entire production process of an existing unit.

The financial participation of the beneficiary of the aid must amount to at least 25% of the eligible costs, either through own resources or through external financing and in a form that does not contain elements of state support, for the expenses subsidized based on article 14 of Reg. EU 651/2014, otherwise the funding application will be rejected (par. 14 of article 14 of Reg. EU 651/2014).

What we do for you

Contact your Business Banking RM today and learn about our financial products and the tools we offer to implement your development plans, such as:

To cover the private participation in the investment plan:

The private participation part can be covered by the creditor's funds or bank borrowing.
In the event that the investment project falls under EU Regulation 651/2014, when submitting the funding application, it must be proven that the Private Participation (equity and/or external financing) in the proposed budget of the investment project amounts to at least twenty-five percent (25%) of it and must not contain elements of state support.

The proof of coverage of the private participation from a bank loan when submitting your application to IISSAM is made:

For businesses that will submit an application through EU REGULATION. 651/2014 /GSA, exclusively by submitting a loan pre-approval letter.

For businesses that will submit an application through EU REGULATION. 1407/2013/De minimis, either a loan pre-approval letter, a letter of intent to lend, or a loan agreement can be submitted.

Do you have any questions?

What happens after the affiliation decision?

After your enrollment decision:

You can apply to the Bank for a long-term loan to cover part of the private participation. The implementation of the investment plan is covered by public expenditure and private involvement. Own funds (own participation and/or external financing) may be used to cover private participation in the investment project's total eligible cost.
Suppose the investment plan falls under EU Regulation 651/2014, when submitting the application for its financing. In that case, it must be proven that the Private Participation (equity and/or external funding) in the proposed budget of the investment plan amounts to at least twenty-five percent (25%) of it and must not contain elements of state support.
The investment loan can be obtained in a foreign currency.
NSRF financial tools are not used for pre-financing businesses.
Debit interest, financial transaction fees, foreign exchange costs, debit exchange differences, and other net financial costs of the beneficiary are considered operating costs and are not eligible.
You can apply to the Bank for a short-term loan to finance all or part of the grant by assigning the latter to the Bank.
You can apply to the Bank for a letter of guarantee for an advance payment of up to 40% of the grant. After the inclusion decision is issued, it is possible to grant an advance payment, up to 40% of the public funding, if the beneficiary provides an equivalent amount of Advance Payment Guarantee Letter from an institution recognized for this purpose. The Advance Payment Guarantee Letter is issued in favour of the "COMPETITIVENESS AND ENTREPRENEURSHIP" Operational Program Intermediate Body (OPIB) with an indefinite period of validity. It is the responsibility of the Intermediary Body to ensure that the letter of guarantee provided by the beneficiary as above is valid and remains valid throughout the implementation of to the investment

Of the beneficiary who received an advance payment against a Letter of Guarantee, when the costs of his project are checked and certified is given the option/option to request a new advance payment of an additional public grant. If the beneficiary chooses to do so by maintaining the existing Letter of Guarantee, it is required that the letter has appropriately worded content and is sufficient in terms of its amount/height.

In any case, the public funding received in advance cannot exceed 40% of the approved amount.

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