Criteria of eligibility for grant and interest subsidy and leasing
1. Eligibility for grant and interest subsidy as well as leasing
subsidy shall be determined by virtue of deci-sion of the Minister
of National Economy or the rele-vant competent body, according to
the stipulations of article 8 below, based on the following criteria:
(a) Criteria of viability applicable to investments and/or equipment
leasing programs or business plans in all sectors:
(i) The features of the organisation, and more spe-cifically its
experience, the range and results of its ac-tivities in the past,
its solvency and financial status, as well as the documented availability
of own funds to cover the financing needs of the undertaking (own
par-ticipation in the investment plus required working capi-tal).
In case of operating undertakings, account shall also be taken of
their operating results in the recent past and current financial
(ii) Profitability prospects of the undertaking already existing
or to be established, to the extent it may be influenced by the
proposed investment, program or business plan, with respect to the
assessment of the condition - prospects of its industrial markets.
(iii) Completeness of the business planning of the investment and/or
leasing program and the organisa-tion of the undertaking implementing
(b) Joint priority - eligibility criteria of viable invest-ments
and/or equipment leasing programs or business plans in all sectors
of economic activity:
(i) Increase in employment and especially the crea-tion of new long-term
insured full-time jobs.
(ii) The extent of own participation in the investment or business
plan and in the working capital.
(iii) Dynamism of and success in previous and cur-rent activities
of the undertaking and majority share-holders or partners in case
of newly established un-dertakings.
(iv) Implementation of the investment and/or equip-ment leasing
program or business plan in such areas of Greece where there are
larger aids, or local em-ployment agreements have been concluded.
(v) Number and importance of investment plans and/or equipment leasing
programs and/or business plans of the organisation that have been
made eligible for grant and subsidy under Law 1892/1990 and these
(c) Additional priority - eligibility criteria of viable in-vestments
and/or equipment leasing programs of manufacturing and mining undertakings
under in-stance (h) of para. 1, article 3.
(i) Prospects of dynamic growth of the sector in which the investment
and/or program shall be imple-mented.
(ii) Designation of the products to be manufactured as new or of
state-of-the-art technology, or the pro-duction of electricity from
mild forms of energy.
(iii) Competitiveness of the products to be manufac-tured worldwide.
(iv) Contribution to energy saving, protection of the environment
and decrease in the pollution.
(v) Relocation of operating plants from area A. Moreover, the relocation
from other areas, provided it shall be effected for environmental
(vi) The extent of participation of raw and auxiliary materials
in the manufacturing cost of production per product unit.
(vii) Implementation of investments under sub-instance (xxii) of
instance (a) of para. 1, article3, by merged manufacturing SMEs
under such sub-instance.
(viii) Contribution of the investment to the estab-lishment and
engagement of other undertakings de-pending on the extent of its
influx (materials and ser-vices) from the domestic market compared
to the overall influx required for its operation.
(d) Additional priority - eligibility criteria of viable in-vestments
and/or equipment leasing programs in the primary sector:
(i) classification of the investment as top, medium or low priority
activity according to the country's agricul-tural policy;
(ii) contribution to energy saving, protection of the environment
and decrease in the pollution;
(iii) relocation of operating plants provided it shall be required
for environmental purposes.
(e) Additional priority - eligibility criteria of viable in-vestments
and/or equipment leasing programs of tour-ist undertakings:
(i) standard of services rendered by hotel facilities to be established,
expanded or modernised (class, stars) and camping facilities;
(ii) upgrading to a higher class in case of invest-ments concerning
the modernisation of hotel and camping facilities';
(iii) establishment of facilities for special forms of tourism;
(iv) conversion of traditional or listed buildings or houses into
(v) contribution to the protection of the environment and decrease
in the pollution;
(vi) possibility of the undertaking to continue the op-eration of
the facility beyond the tourist season of the greater area.
(f) Additional priority - eligibility criteria of viable in-vestments
and/or equipment leasing programs or business plans for undertakings
of the service sector:
(i) state-of-the-art technological services;
(ii) software development, technology and industrial design development
and applied research laborato-ries;
(iii) joint venture centres and International Trade Companies;
(iv) handling and storage of liquid fuels and liquid gas on insular
(v) Therapy and rehabilitation centres and inde-pendent living houses
for disabled people.
(g) The evaluation details, operation, marking and the way in which
such criteria shall be applied, as well as any detail on the application
of this paragraph are specified by virtue of decision of the Minister
of Na-tional Economy. A similar decision shall stipulate the minimum
percentage of marks from joint and addi-tional criteria per sector,
valid for all four sectors un-der instances (c) to (f) above, which
any investment or program shall be immediately approved upon review
and marking, provided that the allocation for grants and leasing
subsidies suffices. If it is lower, it shall only be approved at
the end of the year according to the stipulations of para. 10, article
2. A joint decision of the Ministers of National Econ-omy and Development
shall also define the criterion of the undertaking's dynamism in
the current situation, as well as the additional criteria -apart
from the joint criteria under instance (b) of para. 1 above applicable
accordingly- of eligibility for grants of business plans of manufacturing,
mining and software development undertakings under sub-instance
(xv) of instance (a), sub-instance (v) of instance (e) and sub-instance
(xii) of instance (g), respectively, of para. 1, article 3, which
are reviewed by the Ministry of Development. The completeness of
the business plan, the sequence of the proposed actions therein,
the feasibility of target achievement, etc. shall be considered
as additional criteria.
The evaluation details, operation, marking and the commensurate
way in which such criteria shall be ap-plied, as well as any detail
on the application of the aforementioned business plan shall be
defined by the same decision.
3. Apart from the stipulations in instance (a) of para. 1 above,
the additional special criteria of eligibility for investment grants
and other expenditures under sub-instances (xvii), (xviii), (xix)
and (xxi) of manufacturing undertakings under instances (a) and
(f) of para. 1, ar-ticle 3, which are reviewed by the General Secretariat
for Industry of the Ministry of Development, are de-fined by virtue
of joint decision of the Ministers of Na-tional Economy and Development.
The evaluation de-tails, operation, marking and the way in which
such criteria shall be applied, as well as any detail on the application
of the aforementioned investments shall be defined by the same decision.
4. The criteria, evaluation details, operation, mark-ing and the
way in which such criteria shall be applied, in order for business
plans aiming at the rescue and restructuring of industrial and mining
undertakings un-der para. 2, article 10, to be eligible for grant,
are de-fined by joint decision of the Ministers of National Economy,
Development and Labour and Social Insur-ance.
5. In order for investments abroad under para. 2, ar-ticle 3, to
be eligible for grant, no account shall be taken of the criteria
under instances (b), (c) and (d) of para. 1 above. Investments shall
be made eligible for the grants herein only if they are deemed viable
ac-cording to the criteria of instance (a) of para. 1 above, and
additionally if they contribute, as much as possi-ble, to the enhancement
of productive procedures in border areas of the country, where the
investment shall be implemented, and the maintenance of local populations
in their place of residence.