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FACTBOX: Greek PM vows support for riot-hit businesses

Wed Dec 10, 2008 10:03am EST

(Reuters) - Greek Prime Minister Costas Karamanlis on Wednesday announced financial support measures for businesses that incurred damages during five days of riots.

The measures announced are the following:

- Direct financial support of 10,000 euros for small and very small businesses.

- Government subsidies for 50 percent of confirmed losses, up to 200,000 euros.

- For the remaining 50 percent of confirmed losses, the government will offer guarantees on loans for up to 15 years.

- Loans for up to 15 years with favorable terms to restore damaged buildings.

- Five-year loans with favorable terms for working capital.

- Tax and social security contributions will be frozen for three months to help afflicted businesses.

- The government will fully cover salaries and pension contributions for employees at businesses that will not be able to operate until Dec 20.

(Reporting by Renee Maltezou; Editing by Richard Balmforth)



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