On Thursday, March 17, 2022, the new law on the NSRF 2021/27 Corporate Agreement for Regional Development was passed. This law regulates issues related to the management, control and implementation of development interventions for the 2021/27 Programming Period, in accordance with the requirements of the relevant Union regulatory framework for the individual Funds.

With the new law, the primary concern is to deal with individual malfunctions identified during the previous programming periods, by taking advantage of the opportunities that emerge with the new EU Regulations.

The main objectives of the NSRF Law 2021/27 are:

• the effective diffusion of community resources
• the minimization of delays in project production processes
• the timely maturation of projects
• the reduction of bureaucracy
• the effective treatment and recovery of fraud incidents
• the implementation of a coherent support policy for specific groups of beneficiaries, municipalities or large beneficiaries, in specific areas of action implementation

The effective implementation of the procedures depends on the successful cooperation of the NSRF structures and the co-competent bodies, which is ensured through the creation of special Thematic Networks of coordination and communication.

Finally, this law includes provisions that facilitate the completion of the actions of the previous Programming Period and the smooth transition from the current to the new Programming Period, with the successful operation of all restructured and non-restructured, existing and new NSRF structures.

Improvements and variations of the new NSRF 2021/27

With the new law, it should be noted that significant differences and improvements arise in relation to the current institutional framework for the NSRF 2014/20 (law 4314/2014), such as:

• Establishment of the NSFR Monitoring and Coordination Council with the task of coordinating the Funds and their synergies and complementarities. It consists of the presidents of the Program monitoring committees, General or Special Secretaries of competent Ministries, representatives of the National Coordination Authority, the Accounting Authority, economic and social partners, ENPE, KEDE, MOD S.A., and representative non-governmental organizations.
• Creation of a new Special Service to manage the "Technical Assistance and Beneficiary Support" Program. Commitment of an amount for the financing of support actions (capacity building).
• Restructuring of the National Coordination Authority: Merger of services, creation of new services with the aim of strengthening coordination. (enhanced support of Regions, Integrated Spatial Investments, enhanced support of beneficiaries).
• Maintenance of Staff Structures in the ministries implementing co-financed projects, limited to one structure per ministry.
• Simplification of the program specialization process. For which approval by the Program Monitoring Committee is not required, emphasis on the planning of the invitations and its timely publication.
• Fully digitised procedures. Interoperable information systems: Integrated Information System "INTEGRATED INFORMATION SYSTEM: INTEGRATED INFORMATION SYSTEM (IIS)", Integrated Information System for Public Investment "IPS-PSI" or "e-pde", Integrated Information System for State Aid Management ".OPSKE", Information System for the Cumulation of Minor State Aid "PSPKEIS".
• Financial instruments: No CA/CA is required for their establishment
• Payments to the Beneficiaries: They are not subject to deduction, or withholding due to debts to the State and to insurance organizations or confiscation in the hands of the State or third parties and are paid upon presentation of evidence of tax and insurance awareness. For< 10 thousand € the payments to the beneficiaries are paid without presenting the above proofs.

Funding and payments from the EDF for the NSRF 2021/27

The Special Services may be designated, by decision of the Authorizing Officer, project managers/responsible for PDE payments:

a) For payment of an amount to a payee for the provision of goods/services of technical assistance actions and for payment of beneficiaries of state aid (Direct Payment)

b) For the transfer of a PDE project amount to a beneficiary for the execution/implementation of a specific project (Indirect Payment).

• New regulatory requirement: The Managing Authority should, when selecting operations, verify that the beneficiary has the necessary financial resources and mechanisms to cover operating and maintenance costs for operations that include infrastructure investments or productive investments, in order to ensure their economic sustainability.
• Reduction of administrative verifications: not on all costs, but proportional to the risks identified in advance.
• Ability to carry out on-site verifications by external agencies.

Adonis Georgiadis, Minister of Development and Investments

"With the passing of the law on the new NSRF 2021/27, Greece becomes the first country in the European Union to complete the process. So as to be the first to take out the programs for the financing of businesses and households through the new NSRF. At the Ministry of Development and Investments, we have decided not to let a single day go to waste regarding the absorption of European funds. Our goal remains, in the difficult times we live in, to keep the Greek economy afloat. At the same time, to give a development perspective to our country. I want to especially thank my colleagues the Deputy Minister of Development and Investments, Yannis Tsakiris, the general secretary Dimitris Skalkos and the special secretaries, Giorgos Zervos and Nikis Dandolou for the constructive cooperation we had to get here today and to be first in all of Europe ».

Yannis Tsakiris, Deputy Minister of Development and Investments, Responsible for the Regional Development Corporate Agreement

"The new era of strong and sustainable development is marked by shift towards a more extroverted, competitive and green economic model. With a more efficient state, with less bureaucracy, with more transparency, digitally upgraded, with a drastically reduced underground economy, with a tax system that is friendly to start-ups but also a more resilient social safety net for beneficiaries. This is exactly what the new NSPA law, which was voted in favor of today in the Hellenic Parliament, constitutionally seals. Greece, having the new NSRF 2021/27 amounting to 26.3 billion euros, which was approved first by all EU member states, as well as new financial tools, is ready for its transition to the new era. An era that combines economic efficiency with social cohesion and justice."

Dimitris Skalkos, secretary general of the Corporate Regional Development Agreement (NSFR)

"The passing of the new implementing law for the co-financed programs of the 2021/27 period provides the appropriate institutional framework for their effective management, monitoring and control. With new organizational structures, new management tools, upgraded information systems, synergies with other financial instruments, we strengthen the capacity of the NSRF system to respond to the challenges of the new environment. At the same time, we are contributing to the goals of sustainable competitiveness and strengthening social cohesion. The new implementing law is passed in time following the country's lead in adopting the new Regional Development Partnership Pact. Thus, immediately after the adoption of the new sectoral and regional programmes, their implementation can start."