8 billion euros in new European funds
The Greek government announced a comprehensive €8 billion investment plan on Monday, backed by new European funds, to tackle key challenges ranging from energy efficiency and climate resilience to housing and transport upgrades.
During a joint inter-ministerial press conference, Deputy Prime Minister Kostis Hatzidakis and several ministers outlined the implementation of the Social Climate Fund, the Modernisation Fund, and the Island Resilience Fund, with programmes scheduled to run from 2026 to 2032.
“These funds represent a strategic shift towards sustainable development and social cohesion,” said Mr. Hatzidakis.
Key initiatives under the new programmes include:
Electrical interconnections for the Dodecanese, North Aegean, and Cyclades to lower public utility costs for island residents.
Energy upgrades of buildings, with increased private sector involvement.
Direct economic support for low-income households, including heating allowances and rent subsidies.
Expansion of social housing, along with renovation of student accommodation.
Major upgrades to urban transport, including the Athens Metro and new electric buses for Attica and Thessaloniki.
Water scarcity solutions, such as desalination plants and dam construction.
Support for micro-enterprises to modernize their facilities and improve energy efficiency.
Green investments in industry and ship energy upgrades, with Greek shipyard participation.
Rent subsidies for public sector workers stationed in high-rent areas.
The programme reflects Greece’s commitment to leveraging EU funds for long-term environmental, social, and economic resilience, especially for vulnerable communities and remote regions.
