If it is in any way different from the approved physical or economic object, the FB must submit to the SMA a revised copy, which will be registered in the OPS.
 
If the value of the supporting documents, which are submitted with the MDD is extravagant, the FB must submit an accounting document of an equal value.

Supervision of the projects’ progress with the use of the Operational Plan’s tools.

The SMA in cooperation with the GS of the Ministries and the FB, created the crash program. In the program are listed the projects which are planed by the FB as well as the starting date of their implementation.

The evaluation of the progress of the OP is done every six months or every year and is based on the table that has been prepared by all the FB.

This procedure is binding for the FB and the SMA and constitutes a short and midterm planning for the realization of the OP.

For big and important projects, the SMA can ask the FB or the external Experts to perform a risk analysis study.

Supervision of the financing of the incorporated projects 

The SMA has the responsibility for the incorporated projects that have been registered in the PDE:

• To supervise the financing of the incorporated projects with the use of the Plan for the management of the Project (PMP) PDΕ
• To update the FB on the predicted absorption of the funds in the course of the year.

Immediately after the incorporation of the project, the Competent Person of Unit B can provide support to the Final Beneficiary, with regards to the supervision of the financing of the incorporated projects. The support may consist of a simple update and must meet the following requirements.

The updating must incite the Final Beneficiary to communicate with the Responsible for the Financing of the approved project.

In particular, the updating must explain the following steps of the applied procedure:

The Final Beneficiary submits a Request for the Project’s registration in the PDE. The request must state the total budget, the annual credit and the expenses stated in the Technical Report. The request, along with the Decision of Incorporation and the Technical Report, is addressed to the institution, which is competent for the financing, and it is forwarded to the competent person (member of Unit B) of the Management Authority.

Once it is forwarded, Unit B sends to the financing institution an approval. The approval consists of the SMA’s decision regarding the height of the financing, which is based on the data in the OPS.

The decision, which is also forwarded to the Final Beneficiary, constitutes at the same time a written updating on the predicted absorption of the funds in the course of the year.

In the case of an indirect financing of the incorporated project, the Final Beneficiary opens a bank account under the name of the project, where the Financing Institution deposits the subsidies. Moreover, he receives a checkbook in order to make the payments.

In the case of a direct payment, the financing is given directly through the account of the CD in the Bank of Greece.

In his accounting books, the Final Beneficiary opens an accounting share for the project, where all the acts relevant to the project as well as the Monthly Reports of Expenses are registered.

The Financing Institution includes the proposal in the Annual Planning and suggests to the Ministry of Economy and Finance the making or, if it is necessary, the amendment of the Collective Decision of financing (CD) as well as the registration of the project in the PDE. 

The Ministry of Economy and Finance registers the act in the PDE and forwards it to the Financing Institution, to the Final Beneficiary, to the Payment Authority, to the Managerial Authorities and to the Bank of Greece.

Based on the above notification, the Bank of Greece opens the account of the CD where is deposited the amount estimated by the PDE.

The Final Beneficiary submits to the Financing Institution an application for financing. When the Financing Institution is ready to proceed with the financing it asks from the FB the subsidy invoice and all the accompanying documents required by the legislation (usually  tax and insurance clearance).

The Final Beneficiary sends the above documents to the Financing Institution. In the case of an indirect financing he also sends the number of the bank account that he opened especially for the specific project.

Based on the above, the Bank of Greece deposits the amount of financing in the respective bank account.