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

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

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.

 
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
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.
 

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?

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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