Greece to contribute €120 million to European fund for high-tech companies
Published
Greece will contribute €120 million to a new European growth fund that supports high-tech companies. According to available information, the fund's initial capital commitments amount to €2 billion.
The fund will finance innovative businesses, that is, companies that develop new technologies and new products. These companies often need large amounts of capital to grow and compete in international markets.
The first investment approvals are expected in the coming weeks. Until then, it is not known which companies will receive funding or what criteria will be used to make the selection.
The country's participation is part of the broader effort by the European Union to strengthen its technological development. The next announcements will show how the resources will be allocated and what the outcome will be for the Greek economy.
Sources: topontiki.gr
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