Issue date: 06/08/2025
First day for submission: 06/08/2025 at 08:00
Final day for submission: 30/09/2025 at 14:00
Issuing Authority: Managing Authority (MA) for the ‘Competitiveness’ Programme

Call Code: 022

Budget: €10,000,000.00

This Call is addressed to Hellenic Development Bank S.A. concerning the submission of project proposals (operations) to be included in and financed in the context of the Competitiveness Programme of the European Social Fund (ESF+) and Action 4-4.1-03 – Entrepreneurship Fund III – TEPIX III – Natural Disaster Recovery Microloans Fund.

The Entrepreneurship Fund III (TEPIX III) – Natural Disaster Recovery Microloans Fund is being set up with co-financing from the ESF+ to ensure the viability of businesses and jobs in areas affected by natural disasters, as in the case of the region of Thessaly which was affected by the devastating floods of September 2023. The purpose is to facilitate access to financing mechanisms to enable enterprises or professionals to recover from the impacts of natural disasters which have occurred in the area in which they operate, irrespective of whether they have suffered direct damage from natural phenomena. To achieve this objective, loans are provided on favourable terms, with interest-free financing from the Fund at a rate of 75%. The Fund is initially activated for enterprises/professionals operating in the Thessaly Region, with the overriding aim of bolstering employability in the area.

The financing tool includes the granting of risk-sharing loans to cover either investment costs or special purpose working capital needs. As for investment costs eligible under the ERDF eligibility rules, the option provided by Article 25 of Regulation (EU) 2021/1060 for joint support from the ERDF, ESF+, the Cohesion Fund and the TSO will be used.

The Fund’s participation in each loan (via HDB) is 75% while the remaining 25% is covered by financial institutions (FIs). The Fund’s contribution is interest-free, thereby assisting in significantly reducing the cost of financing for beneficiaries over the entire duration of the loan. In addition, aid is provided to offer mentoring services in accordance with Article 16 of Law 4701/2020 when the Intermediary Financial Institution belongs to Microfinance Institutions. Similar aid for providing mentoring services may also be provided when the Intermediary Financial Institution belongs to a Credit Institution. The cost of these services is covered up to €900 per Tax ID No., with a maximum eligible fee of €100 per hour. The Fund operates in accordance with Regulation (EU) 2831/2023 on de minimis aid, while financing falls under Regulations (EU) 1057/2021, 1058/2021 and 1060/2021. Its operations are governed by Greek law and EU Regulations.

Microloans may be provided by:A. Microfinance Institutions as defined in Law 4701/2020 where the loans are aimed at:• Micro entities as defined in Article 2(2) of Law 4308/2024 as amended by Article 47 of Law 5164/2024 and in force; or

• Natural persons engaged in individual business activity; or
• Beneficiaries of small loans as defined in accordance with the provisions of Article 15(1) of Law 4701/2020 (Government Gazette 128/A/30.6.2020) as in force.B. Financial institutions where the loans are aimed at micro and small enterprises.