The new program, which aims to serve as a pilot initiative for Europe, is being launched within the broader framework of program revisions and the redirection of resources, and is currently in the planning and negotiation stage with European partners.
As Deputy Minister of Finance Nikos Papathanasis stated, it is a pilot program that will be implemented by several European countries and will be discussed at the upcoming EU leaders’ summit of the 27 member states scheduled for December.
The initiative will mark a strategic shift for the entire European Union, which until now has mainly subsidized the energy upgrading of buildings through favorable – even interest-free – loans.
The main goal is the renovation of closed and aging homes in urban centers. Within the framework of the program, grants rather than loans will be used to finance renovations, covering up to 70% of the total cost, while the remaining 30% will be allocated to energy efficiency upgrades. Eligible properties for this subsidy must have been built before 1995, and higher income limits and maximum property size caps will be applied in order to exclude large and luxury residences.
According to Mr. Papathanasis, if the program is approved, it will be launched after the completion of the “Exoikonomo 2025” program, possibly in the first months of 2026.
