Alpha Bank demonstrates its support for both tourism and female entrepreneurship following the recent signing of a financing agreement with VMV Hotel – Tourism Enterprises SA, through the Recovery and Resilience Facility. The company’s shareholders are Venia Papathanasopoulou, Vasiliki Delistathi, and Muriel Laurence Marcelle Abecassi, who plan to establish a 4-star boutique hotel with a total capacity of 8 rooms and 23 beds at “Ormos Ysternion” bay in Tinos. The €2.2 million project involves renovating an existing old building in the area. The investment plan has been approved under the Development Law N.4887/2022, with a total eligible budget of €0.91 million and total grant amount of €437,081.50, representing 48% funding.
The loan agreement signing ceremony took place at Alpha Bank offices, in the presence of the Bank’s Small Business Banking Director, Alexandros Tolias, and the Director of the Special Coordination Service for the Recovery Fund of the Ministry of National Economy and Finance, Orestis Kavalakis. The Director of the Special Coordination Service for the Recovery Fund stated: “The investment in Tinos is a good example of how the Recovery Fund can act as a catalyst for strengthening the local economy of small and medium enterprises, and in this case, female entrepreneurship.
Through utilizing the Recovery Fund’s financing tools, we support investment projects that respect the environment and cultural identity of the place, creating conditions for sustainable development and quality tourism.” Alexandros Tolias, Small Business Banking Director of Alpha Bank, stated: “Alpha Bank demonstrates in practice that it stands at the forefront of supporting the country’s tourism businesses. At the same time, we are proud to make the vision of three exceptional entrepreneurs a reality – three women who submitted an organized and ambitious investment plan that will strengthen Tinos’ local economy.” The company shareholders stated: “We are particularly grateful to Alpha Bank and the Recovery and Resilience Facility.
Thanks to this significant financing, we can now proceed with implementing our vision to support tourism on the island we have come to love, our Tinos, by establishing this 4-star hotel through converting an existing building. Our vision and personal values of respect, simplicity, quality service, and kindness will be reflected in our work and serve our visitors and the Local Community of Ysternion. This project will significantly upgrade the area and meet the growing demand for hospitality infrastructure. This investment is not just about creating a building, but also shaping an environment of modern tourism concepts that will inspire and strengthen developments in the sector.” The investment will be implemented within the framework of the National Recovery and Resilience Plan Greece 2.0 with funding from the European Union-NextGenerationEU.
