Greece’s finance minister on Monday announced another round of relief measures for SMEs in the country, with the relevant minister qualifying that the package was first “extensively discussed” with relevant European organs.
The program, called Gefyra II, with the word meaning “bridge” in Greek, features the prospect of a “haircut” of overdue business loans – interest and capital – a reduction in interest rates, an extension of the period of maturity and maintaining a pre-arranged payment.
According to FinMin Christos Staikouras, the relief measures are aimed to resuscitate thousands of small-to-media-sized businesses in the country that have been significantly affected by the Covid-19 pandemic.
