By Tasos Dasopoulos
Subsidies to households and businesses, regional projects of local and national importance and private investments of a new era, with a total budget of 11 billion are planned to be implemented within the next year, through the public investment program.
Before the start of 2022, the application for the first installment of 3.7 billion from the money of the Recovery Fund, which has been pending since October, must be made. The delay was because since July, when the Greek Recovery Fund was approved, Brussels sent the final documents of the business contract that should be signed with the Ministry of Finance at the end of November. This contract is expected to be signed before the end of the year. Given that the first 13 milestones have now been completed, Greece will officially make the request for the first regular installment from the Fund at the beginning of next year, with the prospect of being disbursed within the first quarter.
Equally important step will be the final signing with the four systemic banks (Alpha, Ethniki, Piraeus, Eurobank), Optima bank, Pancretan Bank and Cooperative Central Macedonia, of the contracts for their participation in the financing of private investments.
After the signing of the contracts, a total of 1.4 billion loans of the Recovery Fund will be made available to the banks for the start of the evaluation and promotion of investments. The 800 million euros will be given to the commercial banks, 100 million euros to the European Bank for Reconstruction and Development (EBRD) and 500 million euros to the EIB. With the last two, the participation contracts with financing of 1 billion from the first and 5 billion from the second, have been signed for about a month.
These two moves will bring the Recovery Fund to the “zero point” from where its substantial implementation will begin, both in investments (public and private) and in reforms.
Where the money will be spent
The investments of the PDE of 2022, are almost distributed 5 billion euros to concern the Recovery Fund and another 5 billion (plus 1 billion the public participation) for the “closing” of the programming period 2014 -2020, but also the start of implementation of the NSRF 2021-2027, after the middle of the year.
The Recovery Fund will finance for the next year subsidies amounting to 1.5 billion euros for programs of small and medium enterprises with more specific interventions in tourism, primary production, while among these programs, the new savings are included.
Also, next year will run the training programs and active and passive employment policies of the Ministry of Labor, amounting to 650 million euros.
Mature major projects that have been included in the public investment program since this year will also proceed, such as major roads and some major flood protection projects with a total budget of 2 billion euros.
At the same time, actions will continue to run regarding the completion of the digitization of the state and the ministries of health, education and justice amounting to 1 billion euros.
Within the next year, the implementation of private investments is expected to begin, in which the participation from the loans of the Recovery Fund will exceed 1 billion euros. These will include investments for mergers and acquisitions of small and medium enterprises once the relevant legislative framework is voted in Parliament.
An important part of the public investments will be the completion of projects amounting to 4 billion euros from the programming period 2014-2020 and 1 billion projects will be mobilized from the NSRF for the period 2021 -2027.
As in previous years, the big risks, according to a competent source of YPOIK, will be the excessively high discounts that will be made by the bidders, the possible court engagements that will bring delays and of course the failures of the public administration.
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Source From: Capital

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