Greece's Minister of Development, Takis Theodorikakos, announced on Friday that Greek small and medium-sized enterprises will receive 681 million euros in funding through 2032, drawn from the Greek allocation of the European Union's Social Climate Fund.
Theodorikakos made the announcement in Thessaloniki, saying the funds would be managed by the Ministry of Development and directed toward sharply cutting energy costs for small businesses and strengthening environmental protection. He said more detailed announcements on the initiative's full scope and timetable would follow within the coming weeks.
Speaking at the general assembly of the Central Union of Chambers of Commerce of Greece, Theodorikakos said 396 million euros of the total would go toward improving and reducing the energy costs of small and medium-sized businesses. He described this as covering any work imaginable that could be done inside a small or medium-sized business and its infrastructure to cut energy costs.
The remaining 285 million euros will fund the environmentally friendly renewal of vehicle fleets, he said, adding that these were measures that could interest a very wide range of Greek small and medium-sized enterprises.
What the Social Climate Fund Is
The Social Climate Fund is an EU mechanism designed to help households, small businesses and transport users manage the costs linked to the bloc's shift toward cleaner energy. The Central Union of Chambers of Commerce of Greece, known by its Greek acronym KEEE, is the umbrella body for Greece's network of chambers of commerce and industry, representing businesses across the country.
Ahead of the Prime Minister's Speech
Theodorikakos also addressed the prime minister's speech due the following day at the 90th Thessaloniki International Fair, a major annual trade exhibition that traditionally serves as the venue for the government's yearly economic policy address. He said he believed there was significant expectation that the speech would signal further support for the middle class, professionals and healthy entrepreneurship, through further reductions in the tax burden and better access to financing sources for small and medium-sized businesses.
He said he believed the prime minister would respond worthily to expectations of this kind. He added that discussions about the economy and the future only make sense when grounded in truth, and that part of that truth is that the international geopolitical environment is very tense, with two wars under way on the planet which, beyond the huge human losses, are affecting the economies of the EU, the eurozone and Greece, creating uncertainty worldwide.
1 Billion Euros for 600 Industrial Investments
Theodorikakos said the world is living through an era of huge uncertainty and very serious risks, which underlines the need for a series of interventions to make the Greek economy more resilient. He pointed to progress made in changing the productive model of the Greek economy and its industrial reconstruction.
He said the government had turned the entire development law toward industry, and that at that moment the Ministry of Development was supporting 600 productive investments in industry with 1 billion euros in grants, subsidies or tax exemptions. Those investments carry a combined budget of 2.1 billion euros and are expected to create more than 10,000 jobs, he said.
He added that last summer, during meetings of the Government Committee for Industry, a series of decisions were taken covering transport infrastructure, strategy on industrial ports and critical raw materials, and the development of several sectors of Greek industry.
Theodorikakos said industry had created 60,000 jobs over the past seven years, that its exports had increased and its footprint in gross domestic product had grown, but that this did not mean the process was finished, since it still needed much greater effort. He repeated his commitment to changing the law governing industrial parks, saying a legislative preparatory committee had already been formed. He said he would seek the chambers' position as well, beyond that of industrialists and businesses already established in the parks, because he wanted to make a change that would further support industry.
New Support Schemes and a Chambers Law
Theodorikakos also spoke at length about financial support for small and medium-sized businesses, including through the development law. He said that between now and the end of 2026, three new support regimes for small and medium-sized enterprises would be introduced, covering international outreach, social entrepreneurship and modern technologies, alongside upcoming support through the Social Climate Fund.
Theodorikakos said that during September, the ministry, which has gathered and is processing the chambers' union's core proposals for a new law on chambers of commerce, would return to the issue to advance the process so that the bill would be ready within 2026, according to the Athens-Macedonian News Agency.
