s Greece’s Recovery and Resilience Fund (RRF) enters its final stretch,
s Greece’s Recovery and Resilience Fund (RRF) enters its final stretch, a government decision to redirect resources away from bank-channeled financing tools toward the Hellenic Development Bank is creating serious problems, leaving a number of fully eligible investment projects without funding.
According to a letter obtained by Oikonomikos Taxydromos, tourism industry executives have raised the alarm with both the Ministry of Finance and the Ministry of Tourism, warning that the reallocation is effectively pushing out investment plans that were already mature and ready to proceed. Banking sources told the publication that the number of approved investment plans is now nearly double the funds still available to be disbursed through the RRF via the banks.
The Harsh Reality
What makes the situation particularly painful is that many of the affected businesses didn’t just express an interest in investing, they had already spent real money preparing their applications: feasibility studies, technical consultants, energy assessments, and independent auditor fees, all of which are mandatory prerequisites for inclusion in the program. In other words, they already paid to participate, only to find themselves shut out.
This is not a matter of theoretical losses. These are real, already-incurred costs hitting businesses
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