The application procedure for the "European Union" was completed yesterday, in accordance with the timetable, for the 4th cycle of the Refundable Advance, in which 448,203 enterprises participated.
The total amount that will be channelled to businesses under the 4th round of the Refundable Advance scheme is more than €2 billion. Already €1.53 billion has been paid to 319,835 businesses.
In total, €5.5 billion will be paid out through the four cycles of the Repayable Advance by the end of the year.
This week and next, following verification, the payment of the amounts due to the remaining beneficiaries will follow.
Immediately afterwards, the Ministry of Finance is launching the 5th cycle of the Reimbursable Advance, as it has already announced.
This is a new cycle, which will add the last two months of the year to the two months of the fourth cycle, so that it will cover the period September 2020 - December 2020, in order to more clearly reflect the scope of the impact of the pandemic on the turnover of Greek businesses.
As in the 4th cycle, the 50% of financial support to businesses will be non-repayable, provided that they maintain the same level of employment until June 2021, in order to achieve the dual objective of supporting both businesses and workers.
In the near future, interested parties will be informed about the individual features of Repayable Advance 5 and its exact implementation schedule, according to which applications are expected to start in early January 2021.
