Within the framework of the Action, financing will be earmarked for projects that foster new entrepreneurship and provide incentives for the establishment of new businesses that are technologically and organizationally cutting edge, with an export orientation, in the sectors of manufacturing and tourism. The Action aims at diversifying these sectors, enhancing their comparative advantages, upgrading their competitiveness and extroversion, and enabling them to penetrate new markets and value chains.

Action in detail

The Public Expenditure for the Action amounts to €60,000,000.00 and includes aid under EU Regulation No. 2831/2023 (De minimis).
The amount of the subsidized budget of each investment project can range from €25,000 to €500,000. The percentage of Public Funding amounts to up to 50% of the budget of the funding application.
Applications for funding cannot be for a budgeted amount of less than €25,000. If the investment plan includes expenditures that cumulatively exceed €500,000, the excess amount is considered in its entirety as a private participation. 
Note that the entire investment plan, including the excess costs, is subject to evaluation, monitoring and audit.
 

Businesses that are new or under establishment, and micro, small and medium-sized enterprises that will implement an investment plan exclusively within the Region of Central Macedonia related to the sectors of manufacturing and tourism, exclusively with one of the following forms of business:
Sole Proprietorship, General Partnership (O.E.), Limited Partnership (E.E.), Limited Partnership (E.E.) by Shares, Limited Liability Company (Ltd.), Single-Member Limited Liability Company (M.E.P.E.), Société Anonyme (S.A.), Single-Member Société Anonyme (M.A.E.), Private Capital Company (I.K.E.), Single Member Private Capital Company (MIKE), Civil Cooperative, Civil Profit-Making Company, Other Legal Entity under Private Law (N.P.I.D.), Social Cooperative Enterprise under Law 4430/2016 as in force (KOINSEP), Limited Liability Social Cooperative (KOI.S.P.E.), Agricultural Cooperative, Branch of a Foreign Company.

 

  • Submit a single application for funding per TIN.
  • The same investment entity (partner/shareholder/business) does not participate in more than one (1) investment plan involving a business under establishment.
  • The Partner/shareholder of the business under establishment or new business that commenced business activity on a date subsequent to the announcement of the action, who is a legal person or a natural person with an active sole proprietorship, must not be registered with an active business code (KAD) with AADE (Independent Authority for Public Revenues) related to the investment in question as of the date of the announcement of the action onwards.
  • Maintain single or double-entry account books under Law 4308/2014, as in force.
  • Operate in accordance with the law by having the appropriate licensing documentation, as per the applicable legislation.
  • The proposed investment plan should concern at least one of the eligible business activity codes (KAD), in which activity the beneficiaries should have been active no later than the submission of the first request for payment of the grant (including the advance payment).
  • Meet all the conditions for the application of Regulation (EU) 2831/2023 (OJ L 15.12.2023) (De minimis) on which the Action is based.
  • The funding application must obtain a minimum overall score of 50 in the scoring criteria.
  • Submit proof of availability of funds, which should evidence that it is possible to cover at least 25% of the total costs of the investment plan.
  • Submit a land use certificate for the declared location(s) of the investment, which will evidence that it is possible to set up the investment activity.
  • If the investment plan includes costs for the construction/extension of a building, submit proof of availability of the place where the investment is to be installed.
  • Undertake that the entire investment plan and the individual costs included in the specific financing application:
    • have not been funded under any other action funded by national or EU funds.
    • do not constitute approved investment project expenditure in another action financed by national or Union funds.
    • will not, if approval is carried out and for the period that constitutes approved expenditure under the investment plan to be implemented, be submitted for inclusion or certification in an investment plan of another action financed by national or Union funds.
 
The main expenses covered by the Program relate to:
  • Costs of Equipment, Means of Transport & Instruments
  • Expenditure on Buildings, Land Plots, Facilities & Surrounding Areas
  • Expenses for the Provision of Services
  • Software Costs
  • Promotion, Marketing & Networking Expenses
  • Indirect Expenditure

The start date for eligibility of expenditure is defined as the date of publication of the Action’s Call for Applications.

The standard deadline for the eligibility of expenditure is defined as the deadline for the completion of the operation, i.e. twenty-four (24) months from the date of electronic notification of the final approval of the funding application.

The eligible costs are detailed in the Call File.

 
The subsidy rate, on the basis of which the public financing of the operation is determined, is set at 50% of the subsidized budget.

WHAT WE DO FOR YOU

Contact your  Business Banking RM at NBG today and find out about our financial products and the tools we offer for the implementation of your growth plans.

AT THE INVESTMENT APPLICATION STAGE 
 Before the final submission of the application to the OPSKE system, we can review the possibility of financing private participation (loan contract or loan approval or pre-approval).

IN THE PHASE OF IMPLEMENTATION OF THE INVESTMENT UNDER THE PROGRAM

  • Issuance of an Advance Letter of Guarantee for the receipt of an advance payment of up to 40% of the public funding 
  • Short-term Bridge Financing.
  • Support in finding the appropriate financial tool to cover the private participation, depending on the needs of your business.

 

Digital Banking is now simpler than ever

Download the NBG Business Mobile Banking app now.

Manage the daily transactions and banking needs of your business easily and quickly, wherever you are.

View all of your business’s products, make transfers and remittances, pay bills, personalize your home screen according to your needs and manage all approvals, online, from your mobile.


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