The Development Law and its various support schemes have historically been one of the main means of financing investment projects. With the new Greek Development Law "Strong Development," which was passed in February 2022, the general terms and conditions for supporting investments are established through a framework that specifies the support schemes, which will be activated through specific calls for geographical areas and individual eligible sectors of the economy.
The aim of the investment plans that will be included in the new Development Law is to achieve the digital and technological transformation of businesses, the green transition, the creation of economies of scale, the support of innovative investments and those seeking the introduction of new technologies such as "Industry 4.0", robotics, and artificial intelligence, the strengthening of employment with specialized personnel, the support of new entrepreneurship, the strengthening of less favored regions of the country, and regions included in the Just Development Transition Plan (JDTP), the further enhancement of tourism, and the improvement of competitiveness in high-value-added sectors.
The most important innovation of the New Development Law concerns the inclusion of investment projects that do not have the character of a complete investment but are exclusively supported for specific categories of expenses.
The Official Gazette concerning the new Development Law (4887/2022) was published on February 4, 2022. It essentially acts as a guide, providing general clarifications regarding the beneficiaries, the sectors of the economy that are supported, the types of support, as well as the percentages for each region, and gives guidelines for the calls of the respective support schemes that will follow.
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Introduction to the Development Law
14 June 2023
ΙΩΝΙΚΗ Finance
The Development Law and its various support schemes have historically been one of the main means of financing investment projects. With the new Greek Development Law "Strong Development," which was passed in February 2022, the general terms and conditions for supporting investments are established through a framework that specifies the support schemes, which will be activated through specific calls for geographical areas and individual eligible sectors of the economy.
The aim of the investment plans that will be included in the new Development Law is to achieve the digital and technological transformation of businesses, the green transition, the creation of economies of scale, the support of innovative investments and those seeking the introduction of new technologies such as "Industry 4.0", robotics, and artificial intelligence, the strengthening of employment with specialized personnel, the support of new entrepreneurship, the strengthening of less favored regions of the country, and regions included in the Just Development Transition Plan (JDTP), the further enhancement of tourism, and the improvement of competitiveness in high-value-added sectors.
The most important innovation of the New Development Law concerns the inclusion of investment projects that do not have the character of a complete investment but are exclusively supported for specific categories of expenses.
The Official Gazette concerning the new Development Law (4887/2022) was published on February 4, 2022. It essentially acts as a guide, providing general clarifications regarding the beneficiaries, the sectors of the economy that are supported, the types of support, as well as the percentages for each region, and gives guidelines for the calls of the respective support schemes that will follow.
Development Law 4887/2022
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