BUSINESS

ESPA project tenders aimed at revitalizing the economy

EVGENIA TZORTZI

TAGS: Finance

The government is planning to issue invitations for the implementation of projects adding up to 10.7 billion euros within this year, in an effort to spur growth in the economy, which remains in stagnation.

The new Partnership Agreement for the Development Framework (ESPA) is finally being activated in practice three long years after its official start, as the European Union’s subsidy period from 2014 to 2020 is already halfway through.

Within June the government must also decide how it will distribute the amount of 970 million euros that has emerged as additional financing for Greece in the context of the revision clause – i.e. the redistribution of EU resources based on the actual statistics of the period from 2012 to 2014.

The additional funding raises the total amount of subsidies to be paid out by 2020 to 27 billion euros, of which some 6.5 billion euros will come from the funds for the Common Agricultural Policy.

Out of the total budget of 10.7 billion euros for projects that are to be announced, the lion’s share of some 3.5 billion euros concerns the infrastructure program, which is burdened by delays of the past and unfinished projects from the previous subsidy period.

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