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) the promotion of scientific and technological advance, of culture, education and training; 
v) the integration of the Union capital markets and the strengthening of 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.

Sustainable development, protection and improvement of the quality of the environment are core values of the EU, which has set targets to reduce GHG emissions and create a climate-resilient society by 2050. This policy is fully adapted to the unavoidable impacts of climate change.

NBG, following an agreement with the European Investment Fund (EIF), participates in the InvestEU – RRF GR Sustainability guarantee program providing financial support for sustainable enterprises and investments in the green transition of micro, small and medium-sized enterprises (SMEs) and Small Mid-Caps, covered by the EIF guarantee.

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

In addition to the general eligibility criteria, it is also considered whether companies meet one or more specific eligibility criteria to be classified as sustainable enterprises, for example:

• whether the company holds a recognised eco-label or an environmental certificate, on the basis of a predefined EIF list (for more information click on the link below); or
• whether the company has received within the past 3 years a clean technology award or a green award, grants or funding from the EU/ a national institution/ organization/ aid programme, on the basis of a predefined EIF list; or
• whether the company has incorporated into its business model any “green” practices with positive environmental impact which can be verified by an external body; or
• whether the company’s main activity falls within one or more of the defined “green” activities and the revenues from such green activities represent at least 90% of its turnover.

If the company's investment plan fulfils the criteria of green investments, it should meet specific criteria, including:

• investments in energy generation from renewable energy sources (RES); or
• solutions for the installation, storage or transmission and distribution of renewable energy; or
• investments in the construction or renovation of green and energy-efficient commercial or industrial buildings; or
• investments in low and/or zero-emission vehicles.

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

• A company that meets one or more criteria to be classified as sustainable enterprise can receive 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 tangible or intangible fixed assets, through an amortization or bond loan; 
• A company with an investment plan that fulfils the criteria of green investments may be financed for the purchase of tangible or intangible fixed assets, through amortization or bond loans.
• The maximum amount of financing for companies that meet one or more criteria to be classified as sustainable enterprises is set at €7.5 million and for companies implementing an investment plan that fulfils the criteria of green investments at €15 million. 
• The term of financing can be up to 12 years as of the date of signing the  financing agreement for investment loans and up to 6 years for revolving credit lines, with the option to be converted into a fixed term loan of up to 12 years in total. 
• Disbursement of a fixed term loan may be effected in a lump sum or in instalments within the grace period.
• Repayment can be arranged in 1-month, 3-month or 6-month equal and/or non-equal capital instalments, with a grace period of up to 24 months for long-term loans for the purchase of fixed assets, and up to 6 months for working capital loans of a more permanent nature. 
• Interest rate charged on the financing is floating, calculated on the basis of a reference 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 (currently 0.6%). 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.