RRF Loans for Green Transition

For natural or legal persons

To take out an RRF loan for green transition 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.
  

9 categories of investments

The green transition projects fall within 9 categories of investments:

• Green technologies
• Green skills
• Biodiversity
• Energy efficiency 
• Building renovation
• Preservation of energy security
• Circular economy
• Sustainable development
• Creation of jobs

Eligibility criteria

At least 20% of the total budget of the investment plan must relate to green transition investments that contribute to the green tagging of the National Recovery and Resilience Plan. This means, it must fall within 1 of the 9 categories of investments.

If the investment plan does not commit a minimum of 20% for green transition investments, we review whether it is eligible with independent RRF loan quota at 30%. This means that at least 30% of the total budget of the investment plan must cumulatively pertain to investments in green transition, digital transformation, extroversion, and innovation, research and development.

Examples of eligible investments 

The eligible investments must exclusively pertain to private investments. For example, they may pertain to:

• Reduction in greenhouse gas emissions and improvement in energy efficiency.
• Energy efficiency through renovation of existing housing stock.
• Construction of new energy-efficient buildings.
• Power production from wind and solar sources and biomass (renewable energy sources).
• Smart energy systems.
• Large-scale IT equipment, data centres, sensors, wireless equipment in line with the carbon emission reduction and energy efficiency criteria.
• Digitisation of transports that aims to reduce greenhouse gas emissions.
• Protection, restoration and sustainable use of Natura 2000 areas.
• High efficiency cogeneration, teleheating and telecooling.
• Use of recycled materials as raw materials that comply with the efficiency criteria.
• Waste collection and processing in line with the energy efficiency criteria.
  

RRF loan amount for green transition

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 green transition investments.

For example, if 20% of the total investment plan budget corresponds to green transition investments, then the RRF loan can finance up to 30% of the investment plan.

Financing scheme

Green transition 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.