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Factsheet for measure GR-2020-14/676 Updated – measures in Greece

Repayable state cash advance aid scheme for companies with less than 500 employees

Xρηματοδοτικό σχήμα επιστρεπτέας προκαταβολής', Κοινή Υπουργική Απόφαση, Αρ. Φύλλου 1135/Β/02.04.2020

Country Greece , applies nationwide
Time period Temporary, 03 April 2020 – 25 April 2021
Context COVID-19
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Access to finance
Author Penny Georgiadou (INE GSEE)
Measure added 16 April 2020 (updated 09 August 2021)

Background information

The Joint Decision of the Greek Ministries of Finance, Development and Investment of 2 April 2020 sets a €1 billion aid scheme to support companies affected by the COVID-19 outbreak. The scheme was approved under the State aid Temporary Framework adopted by the European Commission on 19 March 2020, as amended on 3 April 2020. The goal of the measure is to sustain companies which saw their business affected and impaired by the provisions adopted to face the pandemic and by their consequential socio-economic effects.

(JMD, OJ 1135/Β/02.04.2020)

Content of measure

The measure provides companies with a cash advance financed by the Greek State amounting to €1 billion in total. The funds will be provided via the 'taxis' information system as a tax-free amount, which will not be able to be offset or confiscated.

This measure is addressed to small and medium enterprises of all economic sectors, that have their seat or permanent establishment in Greece, and employ at least 1 and a maximum of 500 employees, in order to deal with the specific issues that such enterprises face in terms of accessibility to credit. Private companies (general and limited liability companies, limited liability companies and private capital companies) that do not employee personnel, regardless their sector, are also eligible for the return on their advance payments.

The advance will be refunded to the Greek State within the next five years, either in total or partially, depending on the viability of each enterprise. The first year is a grace period and there is no obligation to any repayment, which will take place in equal monthly installments within the remaining four years by applying an extremely low interest rate.


The following updates to this measure have been made after it came into effect.

25 April 2021

The measure of the “Repayable state cash advance aid scheme for companies” continued until April 2021 for seventh consecutive time in the context of the legislative act 75 / 30-03-2020 "Measures to deal with the coronavirus pandemic" of the Ministry of Finance.

The latest Joint Ministerial Decision “GDOU 420/2021” (Government Gazette 1689 / Β / 25-4-2021) on Reimbursable Advance No. 7, included the "Procedure and conditions for granting cash aid in the form of a reimbursable advance to companies financially affected by the occurrence and spread of COVID-19 coronavirus disease, during the months of January, February and March 21.

The deadline for submitting applications for the Reimbursable Advance Payment 7, through the "myBusinessSupport" electronic platform, expired on Wednesday, 12 May 2021.

After this date, the Independent Public Revenue Authority (AADE) activated on 18 July 2021 a platform for submitting objections for the Reimbursable Advance with the possibility of submitting a new application to those who were rejected by the programme and within 5 days after receiving notice from the Ministry of Finance.

The programme is co-financed by the Operational Programme “Competitiveness, Entrepreneurship and Innovation” (EPANEK), with funds from the European Regional Development Fund of the European Union (€900 million) and funds from the Public Investment Program (PIP), as well as from the regular state budget.

Use of measure

According to the data of the Ministry of Finance, until March 7, 2021, the results of the measure show that:

  1. In the first round of the Reimbursable Advance payment, 52,490 professionals and companies were supported with the amount of €601,813 million.
  2. In the second round, 89,732 beneficiaries were supported with the amount of €1.259 billion.
  3. In the third round, 101,522 beneficiaries were supported with the amount of €1,510 billion.
  4. In the fourth round, the aid reached €2.174 billion for 447,041 businesses and professionals.
  5. In the fifth round, the amount of aid was €1.225 billion for 359,691 professionals and companies.
  6. In the sixth round, the beneficiaries were 286,181 professionals and companies with an amount of €500 million.

The total amount given as support for the 6 rounds is estimated at €7.3 billion. Regarding the number of beneficiaries and businesses, and up to the fifth round of the measure, they were 544,591, of which a large percentage participated in 2 or more rounds.

For the 7th round of the Reimbursable Advance, the estimates of the Ministry of Finance, refer to an amount of €200 million to be given in order to increase the total number of beneficiaries up to 300,000 as is the target, while the total amount distributed to reach €1 billion.

Target groups

Workers Businesses Citizens
Does not apply to workers Applies to all businesses Does not apply to citizens

Actors and funding

Actors Funding
National government
EU (Council, EC, EP)
European Funds
National funds

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role No involvement No involvement
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • No involvement
  • Main level of involvement: Unknown


There is no involvment

Views and reactions

The employers organizations of SMEs (GSEVEE and ESEE) criticized the content of the repayable state cash measure and asked for the introduction of different eligibility conditions in the programme (for example the abolition of limits as concern the preservation of the 50% of the employees, the restoration of electronic platform malfunctions, the extension of time limits for inclusion in the programme) and generally the adoption of additional measures to support enterprises.


  • 07 April 2020: State aid: Commission approves €1 billion Greek scheme providing repayable advances to support the economy in the coronavirus outbreak (
  • 07 March 2021: Repayable Advance: Aid of EUR 7.3 billion euro (Epistreptea Prokatavoli: Enishisis 7,3 dis.evro) (
  • 11 May 2021: End of time for the Repayable state (Telos hronou gia tin epistreptea prokatavoli 7) (
  • 29 July 2021: AADE Instructions for use (AADE Odigies Hrisis-Epistreptea Prokatavoli (


Eurofound (2020), Repayable state cash advance aid scheme for companies with less than 500 employees, measure GR-2020-14/676 (measures in Greece), EU PolicyWatch, Dublin,


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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.