Greece Announces Interest Subsidy Scheme on Loans for Thomas Cook-affected Businesses

Greek businesses affected by the collapse of Thomas Cook and its subsidiaries, can apply to receive loans at subsidized interest rates, the Ministry of Development and Investment announced recently.

The announced interest subsidy scheme will be supported by banks affiliated with the Fund for Entrepreneurship II (TEPIX II) of the Hellenic Development Bank and the loan repayment is between two to five years.

According to the ministry, the total budget for the announced loans is 100 million euros.

“The Development Bank’s contracts for these loans are already at the banks for signing and for the application and evaluation process to begin. The loans are for medium, small and micro enterprises, which can receive up to 100 percent subsidized interest rate loans from banks,” Deputy Minister of Development and Investment Yiannis Tsakiris said.