RRF Loans for Achieving
Economies of Scale

For natural or legal persons

To take out an RRF loan for achieving economies of scale you can be either a natural or a legal person, provided that you:

• Use the loan to incur eligible expenditures.
• Have your registered or actual office in Greece.

Eligible expenditures

• Purchase, use (depreciation / leasing) and landscaping of land plots
• Purchase / construction and use of buildings (depreciation / leasing)
• Purchase / construction and use of equipment (depreciation / leasing)
• Purchase and use of vehicles (depreciation / leasing)
• Purchase / construction and use of intangible assets (amortisation / subscriptions)
• Payroll linked to the investment plan
• Travel / expense report
• Third-party services
• Consumables
• Operating expenses (communication, energy, maintenance, lease payments, administrative expenses, insurance etc.)
• Cost of capitals
• Working capital (operating expenses, costs linked to the company’s transaction cycle, VAT etc.)
• Marketing and communication expenses

Restrictions on eligible expenditures

• The purchase of land plots must pertain to the investment plan and must not exceed 30% of its eligible expenditures, otherwise it is not considered eligible.

The working capital and the marketing and communication expenses cannot cumulatively exceed 30% of the eligible expenditures of the investment plan.

3 categories of investments

The projects for achieving economies of scale are split into 3 categories of investments:

• Partnerships (existing or new)
• Acquisitions
• Mergers among non-associated companies

Eligibility criteria

3 criteria must be met:

• Participation in the partnership must be in effect for at least the next 5 years.
• The total turnover of the legal persons participating in the partnership must be at least 50% higher than the turnover of the legal person with the highest turnover.
• At least 20% of the expenditures for the investment plan must pertain to the objectives of the new partnerships.

Eligible investments

The eligible investments must exclusively pertain to private investments. Achieving economies of scale involves:

• Existing or new partnership.
• A new partnership arising from acquisition/merger.

What is termed as “partnership”

A partnership is any activity governed by long-term partnership agreements of a binding nature with contractual or real duration longer than 5 years. The agreements must be among non-associated companies with one of the following objectives:

• Joint promotion of business activities.
• Establishment of legal persons with the same goals (e.g. joint ventures, coops, organisations and teams of producers irrespective of legal form).

What are the types of partnerships

Examples of partnership for achieving economies of scale:

• Vendor partnerships
• Exporting partnerships
• Contract farming
• Franchises
• Joint research and development projects

RRF loan amount for achieving economies of scale

The final percentage of the investment plan that will be financed with an RRF loan is determined based on the percentage of the budget that corresponds to investments for achieving economies of scale.

Financing scheme

Achieving economies of scale must be financed:

• 50% maximum through an RRF loan
• 30% minimum through a co-financing loan
• 20% minimum investor own funds

From 3 to 15 years

The RRF loan term is between 3 and 15 years.

It is the same or less than the term of the respective co-financing loans and is determined based on the nature of the investment and our lending policy.

0.35% minimum interest rate

The minimum interest rate of the RRF loan is 0.35% and is determined by ministerial decision.

Due to the low interest rate of the RRF loans, the total interest for financing is very competitive.

3+ years grace period

You may get up to 3 years grace period to repay the RRF loan and the co-financing loan principal.

Provided the eligible expenditures take up more time, the grace period may increase up to 5 years, in line with our lending policy.

Lump-sum or multiple disbursements

The RRF loan may be disbursed in a lump sum or in multiple disbursements, depending on the progress of the eligible investment.

In all events, disbursement must be concluded by 31/08/2026.

Shared collateral with the co-financing loan

The RRF loan may be secured with assets and/or guarantees, in line with our lending policy.

The co-financing loan is secured with the same collateral on a pari passu basis.

Pari passu principle

The pari passu (ranking equally) principle applies for all RRF and co-financing loans in terms of repayments, prepayments and collaterals.