ECONOMY

Farming cooperative with a private investor

farming-cooperative-with-a-private-investor

The Agricultural Development Ministry has approved the charter for the creation of the first agricultural cooperative in Greece with a private investor in its share capital. 

The approval came on Thursday in response to a request by the Parnon Agricultural and Dairy Cooperative of Monemvassia, which is based at Molaoi in Laconia in the southern Peloponnese.

This became possible after a legislative initiative that modernized the framework for the creation and operation of agricultural cooperatives last February, making it more attractive in the process.

Despite the raging pandemic in Greece, a further 20 new agricultural cooperatives have applied for charter approval since February, while another 40 have modified their charters in order to make the most of the favorable regulations for attracting private investors.

A few days ago, following several months of preparation encouraged and supported by the ministry, the collection of signatures started for the foundation of the National Association of Agricultural Cooperatives, aimed at bringing all cooperatives under a single, national roof.