Greece to launch €5 billion entrepreneurship program in November

Greek Deputy Finance Minister Nikos Papathanasis has announced a new €5 billion program aimed at supporting micro and small enterprises, scheduled to launch in late November. A key feature of the initiative is the provision of loans for very small businesses at a near-zero interest rate of 0.35%.

Addressing criticism regarding the distribution of Recovery Fund resources, Papathanasis clarified that €18 billion was allocated to infrastructure, hospital renovations, preventive screenings, and major road projects like the E-65 and the BOAK in Crete. He noted that within the loan-related portion of the funds, 60% went to micro and small businesses while 40% went to large enterprises, defending the latter as major employers in Greece.

The Minister also highlighted that through tax reforms totaling €4 billion, the government aims to support both the daily lives of citizens and small-scale entrepreneurship.