The European Investment Fund guarantee is a type of support provided under the Rural Development Programme.
The loan generates a Gross Grant Equivalent and may be combined with a grant, in case of implementation of an investment project included in a program with a grant, provided that the total support rate, calculated as the sum of the GER and the grant to the total project budget, does not exceed the respective support rate set out in Annex II of Regulation (EU) No 1305/2013. The reduction shall be verified and carried out by the grant provider.
Which actions can I join if I meet the conditions?
Through the Program and the guarantee provided by the EIF, farmers, agricultural cooperatives, groups, and producer organizations, as well as private enterprises in specific sectors of processing and marketing of agricultural products that carry out eligible investments, are given the opportunity to receive funding for the implementation of their investment projects.
The Agricultural Guarantee Fund is co-financed by the Hellenic Republic, the European Union under the European Agricultural Fund for Rural Development (EAFRD), and the European Fund for Strategic Investments (EFSI). Europe is investing in rural areas.
Eligible businesses are those that meet the following criteria:
1.They are newly established, new, and existing micro, small and medium-sized enterprises according to Commission Recommendation 2003/361/EC, i.e., employing up to 250 employees calculated in annual work units (AWU) and the turnover of the last closed financial year does not exceed €50 million, or the Assets do not exceed €43 million. For this reason, the enterprise submits a Declaration of Independence or not, which confirms that the criterion is met.
In addition, it is clarified that in non-independent enterprises, the number of employees and the turnover or assets is calculated:
2. They operate legally in Greece.
3. They are not substantially active in non-eligible sectors.
4. Meet the individual eligibility criteria of the action they wish to join (4.1.4 or 4.2.4).
5. Meet the other eligibility criteria and therefore submit a Declaration of Eligibility and Non-Exclusion).
Please note that the investment to which the requested funding relates must relate exclusively to the eligible economic activities, as described in detail here.
Type www.ependyseis.gr to submit your State Aid Information System application.
The EIF guarantee is a type of support, and the loan will generate Gross Grant Equivalent (GGE). The financing contract benefits from the guarantee provided by the Rural Development Guarantee Fund, which is financed by funds provided by the Greek State, the European Agricultural Fund for Rural Development, and the European Fund for Strategic Investments (EFSI). The Rural Development Guarantee Fund aims to facilitate the access of farmers, livestock farmers, and manufacturing enterprises to financing on favorable terms to develop their farms or businesses while contributing to the economic development of Greece through the creation of new jobs and the development of the Greek rural areas.
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