The Greek Parliament is in its second day of debate regarding a new development bill aimed at overhauling Greece’s investment aid framework, with a vote expected shortly. Backed by the governing New Democracy party, the bill seeks to revise the largely inactive 2022 development law, which, according to the opposition parties, has yet to see a single aid project implemented.
Development Minister Takis Theodorikakos said the goal is to boost Greece’s competitiveness by supporting both large firms and small and medium-sized enterprises, stating: “you cannot compete in today’s world without having large businesses that can respond, but there is also an undeniable need to support small and medium entrepreneurship, which employs millions of Greeks.”
The bill pledges €1 billion in aid by 2026, focusing on manufacturing, large-scale investments, and economically weaker or border regions.
Key provisions include faster processing of applications—within 90 days—new support schemes for social enterprises, and incentives for investments in new technologies. Aid recipients who fail to meet benchmarks within two years could see their support revoked and repaid with penalties.
The law also expands access to financing through the Hellenic Development Bank and European Investment Bank and doubles the aid cap per investment to attract larger projects.
Government MPs argue the changes reflect a shift toward sustainable development and a more productive economic model. “We are looking for the creation of employment, the strengthening of skills, and the promotion of innovation,” said New Democracy MP Panagis Kappatos.
Opposition parties have strongly criticized the bill. PASOK MP Katerina Spyridaki noted the lack of implementation under the 2022 law and accused the government of legislating for appearances. SYRIZA MP Giorgos Papailiou called the promises of transformation “empty words,” citing the absence of evaluations or disbursements to date.
Concerns about transparency were also raised. Independent MP Theodora Tzakri referenced a European investigation into the farming subsidy scandal which alleges the Greek Payment and Control Agency for Guidance and Guarantee Community Aids (OPEKEPE) has been engaging in systematic fraud. Other MPs criticized the plan to replace OPEKEPE with a new authority, warning of political appointments and lack of oversight.
While the government presents the development bill as a strategic shift toward resilience and growth, critics argue it fails to address deeper issues of bureaucracy, execution, and fairness.
