The Alternate Minister for National Economy and Finance, Nikos Papathanasis, signed the financing agreement for the establishment of a Development Fund for a Just Transition by the Hellenic Development Bank.
The Fund, with a total lending budget of €187 million, is financed with resources from the Development Programme for a Just Transition of the NSRF 2021-2027, together with the possibility of financing from other European, national and other sources.
The objective of the Development Fund for a Just Transition is to create, in a first phase, two Financial Instruments – as “Special Funds” – for the support and development of companies of all sizes, in the areas of Just Development Transition, facilitating their access to financing, encouraging investment and entrepreneurship, and the development of these areas in the context of the change of the production model for a smooth and fair transition to the “meta-lignite” era.
Two special funds
The two financial instruments that will be created are:
– THE JUST TRANSITION DEVELOPMENT LOAN FUND, which will provide loans for investment expenditure and working capital, with a 3% interest subsidy for 3 years for the implementation of investments.
– THE JUST TRANSITION DEVELOPMENT INVESTMENT LOAN GUARANTEE FUND, which will provide loans for investment expenses, with an interest subsidy of 3% for 2 years for the implementation of investments.
“We continue to implement our government program, aiming at dual convergence, both with the rest of Europe and mainly between the country’s regions,” Papathanasis stressed.
As you mentioned, the ultimate objective of this specific intervention, which is being launched, worth 1.6 billion euros, is to support investment projects and the development of the economy in areas affected by the energy transition, the preservation of existing ones and the creation of new and better-paid jobs, especially for women and young people who want to remain in their jobs.