Alpha Bank, with the participation of the Recovery Fund "Greece 2.0," is financing the investment project of over €2 million of the company "Limen Monoprepigi IKE" for the purchase and modernization of an old hotel unit in Limni Evias.
The investment is of particular importance for the region, which has been severely affected by the devastating fires and floods of recent years, as it is expected to contribute to the support of natural wealth and the local economy and society, according to the announcement.
The hotel has been closed for more than 20 years and is due to undergo a major refurbishment to become a model of a modern and upgraded hospitality experience. Upon completion of the works, the funded tourist complex will have a capacity of 29 rooms and 72 beds (category 4 keys), while investing in the promotion of local gastronomy with the operation of a restaurant on the rooftop, with the privilege of an impressive view of the Evian Gulf.
The total investment is worth €2.023 million, of which 50% comes from TAA (€1.01 million), 30% from Alpha Bank (€0.61 million), and 20% (€0.40 million) from equity participation.
The signing ceremony of the loan agreement took place at the headquarters of Alpha Bank, with the participation of the legal representative and manager of "Limen Monopersonal S.A.", Panagiotis Katarahias, in the presence of the Governor of the Special Coordination Service of the Recovery Fund (EVSTA), Orestis Kavalakis. The event was hosted by Alpha Bank's Chief Retail Banking Officer, Isidoros Passas, Chief Retail Distribution Officer, Christos Schizas, Small Business Banking Director, Spyros Redetakos, and Alpha Bank's Central Branch Manager, Christos Economou.
STATEMENTS
The Governor of the Special Coordination Service of the Recovery Fund, Orestis Kavalakis, said: "The loan resources of the Recovery Fund are directed exclusively to the private economy and constitute an attractive investment tool for Greek businesses to reduce borrowing costs and boost investment in critical sectors for the country's growth. Investment projects such as the one we have signed to finance in partnership with Alpha Bank prove once again that Greece 2.0 loans are also relevant to small businesses and support private investment that is necessary for the recovery of affected areas, such as North Evia. Our goal has been and remains to use all available loan resources of €17.7 billion to continuously improve the investment environment, support entrepreneurship, and create more and better-paid jobs."
Alpha Bank's Small Business Banking Director, Spyros Redetakos, said: Alpha Bank made the strategic decision to invest in a diversified model to support small businesses, which are a key "cell" of entrepreneurial activity. The fact that the bank made investments that had a significant impact on society while using a lot of Recovery Fund resources demonstrates this. The financed investment is a significant stimulus for the Lake Evia region, as it upgrades the tourism product, creates jobs, and contributes to the growth of the local economy and the development of the wider region. We stand as trusted investment advisors alongside small businesses, contributing in practice to the creation of a fertile environment where small and family businesses thrive and entrepreneurship is rewarded."
The legal representative and manager of "Limen Monopersonal S.A.", Panagiotis Katarahias, said: "The hotel unit "Limni Boutique Experience Hotel" is a new A' energy class holiday resort in Limni Evia and consists of 29 rooms designed and inspired by the harmony of nature and the magnificent location. In this new jewel of a place, the ultimate goal is to provide the ultimate hospitality experience, offering unsurpassed accommodation, total relaxation, quality entertainment, and unique culinary delights to every visitor. The new design practice of "Limni Boutique Experience Hotel" contributes to the revival of the existing hotel accommodation "Limni," highlighting the magnificent scenery of Greek nature through the view of its rooms and individual spaces."
The investment is being implemented with a loan under the National Recovery and Resilience Plan "Greece 2.0" with funding from the European Union (NextGenerationEU).
