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Greece adopts new development law, launches new investment fund
Greece has adopted a sweeping new development law providing more than €1 billion through a dozen different support programs for private investors, even as it proceeds with the launch of a €300 million sovereign investment fund aimed at strategic sectors of the economy.
The new development law seeks to accelerate the transformation of the Greek economy and promote its outward orientation towards international markets. It gives particular emphasis to investments in underdeveloped regions of the country. “Greece needs a new, more productive and more resilient growth model – and the new Development Law is a pillar of this strategy,” Minister of Development Takis Theodorikakos told parliament.
Under 12 different support programs focused on manufacturing, technology, agri-food, tourism and logistics, the new law provides more than €1 billion in financing for the period 2025-2026. It provides for an expedited evaluation process, committing to evaluate project applications within 90 days of the submission through a streamlined, electronic system.
The government has also proceeded with the creation of a new €300 million guarantee fund that will allow Greece to tap up to €1 billion from the European Investment Bank. In line with the objectives of the new development law, the fund will focus on strategic infrastructure for the country. Investments will be made through minority equity holdings in companies and large infrastructure projects, with a focus on energy, the green transition and digitalization projects.