Signing of EBRD Greek RRF Co-Financing Framework with OTE Group

Date: 8th July 2022

Congratulations to the incredible EBRD team for closing this transaction in record time! The project is the first under the EBRD Greek RRF Co-Financing Framework and will be implemented as part of the “Greece 2.0” National Recovery and Resilience Plan, funded by the European Union’s Next Generation EU programme. EBRD is a true pioneer and has the knowledge necessary to implement RRF financing transactions swiftly.

Lambadarios Law Firm is truly happy to have supported the EBRD team on this transaction. Special thanks to our hard working banking and finance team led by partner Prokopis Dimitriadis and senior associate Katerina Gini as well as managing partner Constantinos Lambadarios for closing this project on time and finding a path through the complexity of the First in the Greek market!!

The agreement was signed at the ΟΤΕ Group headquarters, between EBRD Telecommunications, Media & Technology Director, Dirk Werner, and the ΟΤΕ Chairman & CEO, Michael Tsamaz, in the presence of the Minister of Finance, Christos Staikouras, the Deputy Minister of Finance, Thodoros Skylakakis, and the Governor of Greek Recovery & Resilience Agency, Nikos Mantzoufas.

Τhe financing is aimed to provide a significant boost to digital transformation, green transition and regional inclusion. More specifically, these funds will provide OTE with additional liquidity for its investment plan exceeding €3 billion by 2027, and contribute to the Fiber to the Home network rollout in Greece, to approximately 371K households & businesses in 12 regions.