The Economy Ministry’s Special Secretariat for Public-Private Partnership (PPP) Projects will also operate as a point of contact for investment projects put forward to the ministry for inclusion into the Investment Plan for Europe (also known as the Juncker Plan).
The PPP secretariat is responsible for coordinating the implementation of projects approved in the 2009-2014 period in Greece with a total budget of 540 million euros, marking the opening of the PPP market in this country.
The cabinet has also decided to involve the PPP secretariat in the Juncker Plan’s project selection process, as it is thought that this entity has the know-how to contribute to the utilization of financing tools for the coverage of the private sector’s share in the projects. Funding is the main problem for private investments these days due to the lack of liquidity in the credit system.
Out of the 10 project contracts signed for implementation via PPP, seven fire stations have already been delivered and are fully functioning. Three schools out of the 24 planned for construction in Attica have also been delivered, after drawing from both the Jessica funding tool and loans from the European Investment Bank. This was a funding model later adopted by other European countries due to its success.