Th. Skylakakis: Emphasis on RRF green energy investments due to the war

Of Tasos Dasopoulos

Acceleration of the Development Fund’s investments for the green transition and in particular the creation of the infrastructure for green energy production was announced by the Deputy Minister of Finance, Mr. Thodoros Skylakakis, from the Delphi Economic Forum.

The lever for these changes can be, according to the minister, the part of the loans of 12.7 billion euros which can be allocated for more direct investments in this direction, given that the Greek program already provides green investments for the 38% of available resources.

On the part of subsidies, Mr. Skylakakis reiterated that mainly adjustments of the physical object should be made based on inflation and much less interventions in the structure of the plan. He also reminded that there is already a significant “green” part in the subsidies. But also how an adjustment should be made because the EU made a small cut of the program by 400 million euros (from 30.5 billion euros), due to the higher than expected growth of the economy in 2021.

Mr. Skylakakis stressed that in any case for this year will be made public investments amounting to 11 billion euros (calculating the Recovery Fund and the NSRF) without even calculating the payments from the loans of the Recovery Fund which will be given depending on the flow of Regarding the need for a larger percentage of participation from the Recovery Fund in new investments, the Minister noted that the government wishes to add is to first promote a small percentage of 10% -20%. “Because business logic is better the better, but we have to support the economy,” he said.

The deputy YPOIK also referred to the Association of Greek Banks that completes a platform through which there will be transparency in access. On the part of the loans, he estimated that when the war capital is somehow closed (either it will be included in a long-term situation, something that is unattainable, or it will end), there will be an explosion of investment interest. He reminded the investors who apply for loans that the small and medium-sized companies can also receive a subsidy from the development company, while the older ones can only resort to tax incentives.