Investment Financing Scheme and eligible expenses

The loans of the Recovery and Resilience Fund will finance investment projects which will be co-financed with a Bank loan of up to 50%. Investor should note that a minimum 20% equity participation of the investment plan is required.

Funding Structure

  • The RRF framework poses no limitation regarding loan mechanics and characteristics. Loans can be structured as regular, bond or, in specific cases, syndicated loans.
  • RRF and Commercial Loan have identical terms, in every aspect, excluding pricing.
  • RRF Loan pricing -> 0,35%*, potentially limited by EU state aid rules.
  • Loan tenure->3 to 12 years.

* RRF Loan Pricing is yet to be formally announced by the governing body

Indicative expenses in 5 basic pillars

...Green Transition

  • Building & Infrastructure Energy Efficiency Improvement
  • Net-metering investments (renewable energy for self-consumption)
  • E-mobility (vehicles & infrastructure)
  • Recycling & Waste management
  • Net-metering investments (renewable energy for self-consumption)
  • Investment in renewable energy production systems from renewable sources (solar, wind, etc.)

...Digital Transformation

  • Business digitization investments
  • Hardware and Software expenses
  • Software as a Service
  • Employee training
  • Consulting expenses


  • Business infrastructure
  • Construction
  • Expansion
  • Modernization
  • Including Hospitality and Tourism sector

...Business Scale-up

  • Investment needs following M&As
  • Expenses relating to business model migration of merged entities
  • Employee training and culture harmonization related expenses

...Innovation (R&D)

  • Promotion of Research & Development
  • Installation of new and innovative systems and techniques
  • Business reorganization
  • New product and services related R&D expenses.

Eligible Expenses & Prohibited Sectors

Indicative Eligible Expenses

–  Assets (Tangible - Intangible)

  • Land acquisition (up to 30% of BP’s eligible expenses)
  • Buildings (purchase / construction / modernization)
  • Equipment (purchase / construction / modernization)
  • Transportation means
  • Intangibles (purchase / usage)

–  Operating Expenses

  • Travel
  • Third party services
  • Consumables
  • Various operating expenses (communication, energy, maintenance, insurance, etc.)

–  Cost of Capital (construction period interest)

–  Working Capital* (expenses relating to raw material or merchandise, VAT)

–  Marketing & Promotion *

*Working Capital and Marketing expenses up to 30% of BP’s eligible expenses

Indicative Prohibited Sectors

–  Activities relating to arms & ammunition (research & development, production, trade)

–  Activities relating to Tobacco (cultivation, manufacturing, distribution and trade)

–  Activities relating to Gambling (including software used for gambling and relevant internet activities)

–  Real Estate (projects that are not part of BP compatible with RRF targets – real estate intended for sale)