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Strategy and policy
Reform Support

Modernising the legal framework of the Public Investment Programme in Greece

Supporting reforms to ensure efficient and effective revenue administration and public financial management

Funding Programme
Year
  • 2021

Modernising the legal framework of the Public Investment Programme in Greece

The Commission aimed to modernize the legal framework of the Public Investment Programme (PIP) in Greece. It focused on consolidating, simplifying, and modernizing the legal framework and establishing efficient, streamlined, and transparent procedures for PIP execution.

Context

The project supported the Ministry of Economy and Finance of Greece in modernizing, simplifying, and revising the legal framework of the Public Investment Programme (PIP). The project aimed to analyze the existing legal framework and procedures, recommend improvements, and propose legislative modifications for renewed PIP primary and secondary legislation. The complex legal framework, with laws dating back to the 1950s, hampers public investment execution. The multitude and complexity of provisions, along with multiple agents involved, affect the efficient absorption of EU and national funds. This causes delays, disruptions in project financing, and funds remaining unused due to slow reallocation.

Support Delivered

The project delivered the following outputs:

  • Analysis of the current regulatory framework, mapping of processes, governance models, existing tools, and best practices from other EU Member States and international organizations.
  • Recommendations for modernizing and simplifying the PIP legal framework and procedures, including new processes, monitoring and review measures to enhance transparency and effectiveness.
  • Draft proposals for PIP legislation: primary and secondary legislation, along with guidance on the adoption and implementation process.

Result achieved

The project successfully proposed a comprehensive and modern legal and institutional framework for the PIP. It introduced efficient, streamlined, and transparent procedures for PIP implementation and execution, facilitating better fiscal management and resource allocation. The recommendations and draft legislation provided a unified and modernized legal framework, improving the strategic profile of projects and their linkage to policy objectives. The proposed PIP law reform is expected to enhance oversight, reduce administrative burden, and clarify procedures, benefiting all stakeholders and the broader community by maximizing EU and national fund utilization.

More about the project

You can read the documents related to the project here: