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Victoria Mindova

€275 million of state subsidies will be allocated for the programs of the National Strategic Development Framework (ESPA) for this year. Minister of Economy, Development and Commercial Fleet, Louka Katseli announced before journalists that the Ministry has prepared four new programs that will provide an incentive for development and improvement of production in the country. Modernization of production processes and financing innovation in the manufacturing sector are part of the tasks of the government to restore the local economy and the positive economic rise. According to data presented by the Ministry over six thousand businesses can benefit from the money allocated for the four new programs. 

The first program presented by Minister Katseli was "Production in the new conditions,” which has a budget of €200 million. The state subsidy amounts to 35%-45% (according to geographical location) of the total investment of the approved company. This particular program focuses on four thousand five hundred small and medium-sized manufacturing enterprises in Greece, which have an annual turnover below €10 million and fewer than 50 employees. The money will be allocated to companies who want to upgrade their production capacity and facilities, who want to expand their business by introducing new services or simply to maintain the number of employees in the enterprise. 

Small and medium businesses can apply for the second program called "Green Business" and they also according to geographical location will be entitled to 30% to 45% funding from the provided investment. The total amount of the program "Green Business" is €30 million and it will be able to serve about 600 enterprises in the country, which want to develop their business or products related to environmental protection. Projects related to reducing hazardous waste production, optimizing the energy efficiency of production and supply of organic products, are among the main priorities for funding under the second program. 

The program "Green infrastructure" has a budget of €30 million and it will offer state funding of €300 thousand to €2.5 million for projects associated with waste. Companies which want to improve the social and environmental profile of their business, can apply for this program. Encouraged is the use of recycled materials in various business processes. “Green infrastructure” will fund companies with annual turnover below €50 million and up to 250 employees. For small and very small enterprises the program provides up to 40% state funding of the approved investment plan, and for medium companies from 35% to 45% of the submitted project. About one hundred companies across the country are expected to apply for this program. 

About €15 million are provided for the fourth program of state subsidies in the National Strategic Development Framework (ESPA). "Manufacturing of clothing and shoes - new perspectives” will enable SMEs to apply for funding for their business, if they have an annual turnover below €50 million and less than 250 employees. Small companies can apply for amounts of €30 thousand to €150 thousand, which will cover up to 45% of the estimated investment. These parameters vary in subsidizing larger firms where allocations will be from €80 thousand to €200 thousand, as state funding will not exceed 40%. Minister of Economy, Development and Commercial Fleet, Louka Katseli stressed that the "Manufacturing of clothing and shoes - new perspectives" will aid the light industry in the country, which in recent years is reporting decline. About 350 enterprises in Greece can take advantage of the new program to improve the quality and competitiveness of production.