InvestEU - RRF GR Innovation & Digitalisation Funding Facility

Product Overview

Budget and availability period of the facility

The facility budget is €200,000,000 and the availability period is through to 15/03/2027 or until available funds have been used up.

Purpose of financing

The InvestEU - RRF GR Innovation & Digitalisation Funding Facility of the InvestEU Fund, guaranteed by the European Investment Fund (EIF), is addressed to Small and Medium-Sized Enterprises (SMEs), as well as Small Mid-Caps, in order to provide financing for the support of innovative and fast-growing businesses, as well as investment plans requiring the financing of Research and Innovation (R&I) expenses or the adoption of digital technologies and the digital transformation of eligible businesses.

Financing amount

The maximum loan amount is €7,500,000, while the maximum total amount of financing that a business can obtain under the InvestEU funding facility is as follows:

For all businesses (either Micro, Small and Medium Enterprises or Small Mid-Caps) that meet at least one of the Research and Innovation Criteria or are innovative and/or fast-growing businesses (Innovation Criteria), the maximum total amount of financing is set at €15,000,000.
For Micro, Small and Medium Enterprises (SMEs) that meet at least one of the digital technology and digital transformation adoption criteria (Digitalisation Criteria), the maximum total amount of financing is set at €15,000,000.
For Small Mid-Caps that meet at least one of the digital technology and digital transformation adoption criteria (Digitalisation Criteria), the maximum total amount of financing is set at €7,500,000.

For the calculation of the above limits, any previous loans granted through the InvestEU programme are included in each new loan.

Form and duration of financing

Businesses that meet the eligibility criteria of the program can obtain the following forms of financing:

Revolving working capital credit line (working capital loan): with a minimum duration of 1 year and a renewal option for up to 6 years as of the date of signing the initial agreement.
Working capital of a more permanent nature with fixed term (lump sum working capital): through an amortization loan or a bond loan with a minimum duration of 12 months.
Loan for fixed assets: through an amortization loan or a bond loan with a minimum duration of 12 months and up to 12 years, depending on the purpose of the loan and/or the useful life of the investment being financed.

Disbursement procedure

Disbursement of a fixed term loan may be effected in a lump sum or in instalments within the period starting from the signing of the loan agreement and ending at the end of the grace period or, where no grace period is provided for, until the previous day of the first repayment instalment (availability period).

Repayment method

Repayment is arranged through equal or non-equal monthly, 3-month or 6-month amortization instalments.

Detailed information

What is the purpose of the facility?

The InvestEU Fund has been set up to support policy objectives of the European Union through operations that contribute to:

i) strengthening competitiveness;
ii) growth, employment and economic sustainability of the EU and its environmental and climate dimension;
iii) enhancing social resilience;
iv) promoting scientific and technological advance, of culture, education and training;
v) integrating the EU capital markets and strengthening the Single Market;
vi) promoting economic, social and territorial cohesion; and
vii) the sustainable and inclusive recovery of the EU economy in the aftermath of the COVID-19 crisis.

NBG, following an agreement with the European Investment Fund (EIF), participates in the InvestEU Fund's – RRF GR Innovation & Digitalisation guarantee program providing support for innovative and fast-growing businesses, as well as investments that require the financing of Research and Innovation expenses or concern the adoption of digital technologies and the digital transformation of eligible businesses, guaranteed by the European Investment Fund (EIF) by 80%.

What are the general eligibility criteria for businesses and costs?

The general eligibility criteria for businesses and costs are set out in detail here.

What are the specific eligibility criteria of the program?

The specific eligibility criteria of the program are set out in detail here.

What are the features of the program?

A business meeting one or more research and innovation criteria and/or a fast-growing business can obtain the following forms of financing: i) Revolving working capital credit line (working capital loan); ii) Working capital of a more permanent nature with fixed term (lump sum working capital), through an amortization or bond loan; or iii) Loan for the purchase of fixed assets (tangible or intangible), through an amortization or bond loan;
A business with an investment plan that fulfils the criteria for the adoption of digital technologies and digital transformation can be financed for the purchase of fixed assets (tangible or intangible), through an amortization or a bond loan.
The maximum loan amount is set at €7.5 million.
The duration of fixed term financing may reach up to 12 years as of the date of signing the financing agreement. The duration of working capital financing in the form of revolving credit lines may reach up to 6 years as of the date of signing the financing agreement, with the option to be converted into a fixed term loan of up to 12 years in total, as above.
Repayment for long-term loans for the purchase of fixed assets can be arranged in 1-month, 3-month or 6-month equal or not, principal instalments.
The grace period for fixed asset loans can be up to 24 months. The grace period for working capital loans of a more permanent nature can be up to 6 months.
Interest rate charged on the financing is floating (base rate: EURIBOR 1M, 3M or 6M, a zero rate shall apply in the event of a negative rate) plus interest margin and the levy applicable under Law 128/75. Specifically, with regard to bond loans, a EURIBOR Derived interest rate can be stipulated, especially as regards the first and last interest period. The interest margin includes a guarantee fee of 0.20% on the guaranteed part of the financing.
Interest is posted on 30/06 and 31/12 of each year. Specifically, with regard to bond loans, interest may be posted on maturity of the interest rate.