Development law: Over 1,400 investment projects that were not implemented between 2004 and 2011 removed from program
More than 1,400 investment projects that received financial support totaling €480 million under Greece’s Development Laws of 2004 and 2011 but were never implemented will be automatically removed from the program. This opens the way for the recovery of advance payments with interest.
The Ministry of Development has introduced an amendment, submitted by Minister Takis Theodorikakos as part of the new Quality Policy bill, to decisively resolve the issue of these unimplemented projects. The amendment aims to cut through delays and bureaucracy.
Specifically, all projects that fall under this category and failed to submit a control request by April 1, 2024, will be automatically excluded upon the law’s publication.
The amendment also stipulates that any amounts disbursed as grants, or received as support through guarantee letters, must be returned with interest from the date the funds were received, in accordance with current legislation.
Minister Theodorikakos emphasized: “With consistency, the commitment to transparency everywhere, for everyone, without exceptions, is realized.”
The Ministry’s statement added: “Public funds must be directed towards investments that are implemented, create jobs, and strengthen production and the real economy.”
