According to Deputy Development Minister Alexandros Kalafatis, the Development Ministry plans to issue details of 12 European Union sub-programmes for investment subsidies to small- and medium-sized enterprises (SMEs), part of the Competitiveness Programme (EPAN), by the end of the year. It is to be budgeted at a total of Ђ482 million.
This will bring the activation rate of EPAN for industry to 100 per cent from the current 82 per cent. So far, projects approved for subsidy represent 70 per cent of the programme, the contracts signed 51 per cent and funds disbursed 20 per cent of the programme, Kalafatis said.
The main sub-programme is Epicheireite Electronika (Electronic Entrepreneurship), budgeted at Ђ182.3 million, which offers 40 per cent subsidies. The deadline for submission is 28 November 2003.
