Which projects will be matured with the help of the new Project Preparation Unit

The first projects start from the new Project Preparation Facility (PPF) of HRDH. As supported by the authorized advisor of HRDH, Mr. Panagiotis Stampoulidis, from the podium of the meeting of the Superfund at the 85th TIF, on “Sustainable Development: The role of Public Enterprises and the strategy for the future”, projects will begin that are of worth of more than 2 billion euros.

They are essentially the first projects of strategic importance that the new Project Maturation Unit (PPF) of HRDH will undertake to “run”. The announcement of these projects will take place in the next period. The first list will include projects such as health units, buildings, dams, but also the big plan for the Government Park in Daphne, etc.

The list also includes the property of the current Heraklion airport in Crete. Many of these projects are of interest to the Ministry of Infrastructure and Transport.

In the coming days, the organization chart and the project integration manual are expected to be approved by the Board of HRDH.

The role of PPF

Mr. Stampoulidis noted that the goal of the new Unit is to accelerate the large strategic investments for the maximum absorption of available resources from financial sources, starting with the Recovery Fund (RRF), but also the timeless tool of the NSRF.

What will be attempted through the PPF is the circumvention of the bureaucracy (or its reduction) that often hinders projects of great social and economic interest. The new HRDH Unit will undertake the maturation of large projects, with a budget of over 30 million euros, ie the necessary studies and licenses, as well as the announcement of each tender and the monitoring of its progress.

To join a project one must

To be designated as of strategic importance with a parallel request to the Committee on Strategic Contracts. From then on, a decision will be made whether the maturation of the project will be undertaken by the PPF or the Contracting Authority of each project, or

To make a direct request of the Contracting Authority to the HRDH. Depending on the importance of the project, it will be decided to join the Project Maturation Unit.

Finally, Mr. Stampoulidis noted that for the first time a public organization in Greece is developing its own digital ESG Ratting Tool. In fact, this is one of the rare cases in the world where a fund such as the HRDH incorporates the principles of sustainability in its procedures.

The first contracts are coming to the Recovery Fund

The first investment contracts will have been signed before the end of the year, said yesterday the head of the EIB for Greece and Cyprus, Giannis Kaltsas. The agreement of the European Investment Bank with the Hellenic Recovery Fund is essentially activated.

The goal is to sign integrated projects worth more than 15 billion euros. The main advantage will be the extremely low cost of borrowing (less than 2%) which is estimated to attract significant investment in the near future.

As Mr. Kaltsas underlined, the model of financing private sector investment projects designed by the government, offers a clear framework for the implementation of investments, with less public involvement, which will be a significant advantage given the attraction of investors.