COVID-19 Restarting Travel & Tourism in Greece Commission Approves €450m Greek Covid-19 Support Scheme for Businesses by GTP editing team 22 October 2020 written by GTP editing team 22 October 2020 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 14 Photo source: European Commission Tourism enterprises impacted by the coronavirus pandemic will be able to tap into 450 million euros of support funding after the European Commission approved the Greek scheme this week. Besides tourism businesses, the relief funds will also be channelled into companies active in transport, construction and energy sectors and which were affected by Covid-19 restrictive measures. The Commission said the scheme is “necessary, appropriate and proportionate to remedy a serious disturbance in the Greek economy”. Approved under the State Aid Temporary Framework, the aid, to be allocated as subsidized loans, is aimed at helping beneficiaries address liquidity needs and continue activities during and after Covid-19. Companies with up to 3,000 employees in the sectors mentioned above will be eligible for funding under the program. Photo Source: @European Commission The measure was approved under the State aid Temporary Framework, which foresees that support can be granted only in relation to new loans; interest rates applied to the subsidized loans are in line with the conditions set out in the Temporary Framework; and subsidized loans may be granted until 30 June 2021. The funding will be implemented through local banks on behalf of the Greek Infrastructure Fund (InfraFoF), which also requires that banks provide complementary financing to public loans. The scheme will be financed with InfraFoF resources, which is co-financed by the European Regional Development Fund and the Greek State. InfraFoF is managed by the European Investment Bank. Join the 15,000+ travel executives who read our newsletter Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post GNTO Examines Opening Greek Tourism Bureau in Melbourne next post Greece Looks to Extend Operation of ‘Quarantine Hotels’ You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ