Hatzidakis addresses 1st Growthfund Summit, announces launch of National Investment Fund

Greek Economy and Finance Minister Kostis Hatzidakis on Tuesday announced the start of the process to establish a National Investment Fund within the context of the Growthfund, in which the Hellenic Corporation of Assets and Participations SA (HCAP) has collected significant government assets under a single institutional structure for their more efficient operation and exploitation.

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Addressing the 1st Growthfund Summit, the minister said that the National Investment Fund will operate with revenues from the Growthfund and will provide incentives for investment initiatives, mostly in the field of new technologies and green investments. It will have a modern management and will exploit the best European practices.

The idea came after an agreement with ESM following the return of Athens Water (EYDAP) and Thessaloniki Water (EYATh) to the Greek state. The National Investment Fund will receive funds from the state. An independent investor will assess the value of Athens Water and Thessaloniki Water. Half or 50% of the funding will be used to reduce public debt and the remainign 50% will enter the new investment fund.

A new legislation will be drafted by the end of the first half of 2024 for the modernization of public state enterprises.