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Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for measure GR-2023-10/3260 – measures in Greece

Green Productive Investment of SME

Πράσινη Παραγωγική Επένδυση ΜμΕ Επένδυση Μμ

Country Greece , applies nationwide
Time period Open ended, started on 06 March 2023
Context Green Transition, European Semester
Type Other initiatives or policies
Category Supporting businesses to stay afloat
– Direct subsidies (full or partial) or damage compensation
Author Penny Georgiadou (INE GSEE)
Measure added 05 July 2023 (updated 11 July 2023)

Background information

Οn 6 March 2023, with the No. 1259 Decision of the Deputy Minister of Development , the "Green Productive Investment SME" action was launched.

The Action finances investment projects that utilise and develop modern technologies that upgrade the production of goods and/or services provided by businesses. The initiative intends to reward firms that utilise modern technologies and infrastructures to promote better practices in energy upgrading and circular economy systems.

The action is part of the "Competitiveness" operational program of the NSRF 2021 - 2027. The Public Expenditure is co-financed by the European Regional Development Fund (ERDF) of the European Union and by National Participation.

Content of measure

The "Green SME Productive Investment" Action provides financial support of existing SMEs independently of the sector.

Categories that are eligible for the subsidy are:

  • Buildings, facilities and surroundings.
  • Supply and installation of new modern machinery and equipment in general, necessary for the operation of the business.
  • Supply and installation of equipment to improve energy efficiency, save energy and protect the environment (Expenses for the "Green" Transition'/GREEN).
  • Certification of products, services and procedures according to national or optional standards of European countries and/or countries outside the EU
  • Costs of newly hired staff, technical studies, promotion and extroversion, means of transport, consulting services for monitoring the investment plan, and participation in trade fairs

The percentage of aid for investment projects ranges from 40% to 50% of the total budget.

The total budget of this measure amounts to €400 million.

The online submission of funding applications starts on 22 March 2023 and will remain open until the available budget is exhausted.

Use of measure

As of 9 June 2023, 4,434 funding applications have been submitted for the “Green SME Productive Investment” with a total budget of €676,892,155. The Public Expenditure amounts to €316,306,327.

Businesses located in less developed regions of Greece (North Aegean, Eastern Macedonia-Thrace, Central Macedonia, Epirus, Thessaly, Western Greece, Crete, Western Macedonia, Ionian Islands, Central Greece, Peloponnese) submitted 3,056 applications. Those applications are associated with a Public Expenditure of €211,243.401, while the projected Public Expenditure for this category is €312,000,000.

Businesses located in the transition regions of Greece (Attica, South Aegean) submitted 1,378 applications. Those applications are associated with a Public Expenditure of €105,062,946, while the projected Public Expenditure for this Category is €88,000,000. In the specific regions Public Expenditure is no longer available.

Target groups

Workers Businesses Citizens
Does not apply to workers SMEs
Does not apply to citizens

Actors and funding

Actors Funding
National government
European Funds
National funds
National Recovery and Resilience Facility

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: N/A


There is no any involvement of social partners.

Views and reactions

There are no social partner's reactions to the measure.


  • 06 March 2023: Απόφαση Νο 1259 / 06-03-2023 προσκληση υποβολής προτασεων (
  • 22 March 2023: Τροποποίηση των Προσκλήσεων των Δράσεων «Πράσινος Μετασχηματισμός ΜμΕ» και «Πράσινη Παραγωγική Επένδυση ΜμΕ» 22/3/2023 (


Eurofound (2023), Green Productive Investment of SME, measure GR-2023-10/3260 (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.