Alternate Minister of National Economy and Finance, Nikos Papathanasis, signed the financing agreement for the establishment of a Just Transition Development Fund by the Hellenic Development Bank.
The Fund, with a total loan budget of 187 million euros, is financed with resources from the Just Transition Development Program of the NSRF 2021-2027, along with the possibility of financing from other European, national and other sources.
The goal of the Just Transition Development Fund is to create, in the first phase, two Financial Instruments – as “Special Funds” – for the support and development of businesses of all sizes, in the Just Development Transition areas, facilitating their access to financing, encouraging investment and entrepreneurship, and development of these areas in the context of changing the production model for the 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 expenses and working capital, with a 3-year interest rate subsidy of 3% for the implementation of investments.
– The JUST TRANSITION DEVELOPMENTINVESTMENT LOAN GUARANTEE FUND, which will provide loans for investment expenses, with a 2-year interest rate subsidy of 3% for the implementation of investments.
“We continue to implement our government program, aiming at double convergence, both with the rest of Europe, and mainly between the regions of the country,” underlined Papathanasis.
As he pointed out, the ultimate purpose of this specific intervention, which is launched, amounting to 1.6 billion euros, is to support investment projects and the development of the economy of the 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 stay in their place.
