Subsidies for greener ferry fleet
Minister of Shipping and Island Policy Christos Stylianidis is close to securing subsidies and credits of the order of 1.5 billion euros to finance new coastal passenger ferries, which will drastically reduce the sector’s carbon dioxide emissions.
The minister and former EU commissioner has already agreed with the European Commission as well as the relevant ministries, such as the Ministry of Transport, on funds of approximately €580 million from the National Strategic Reference Framework (known in Greece as ESPA) and the Recovery and Resilience Fund for the financing of such actions as well as the improvement of targeted port infrastructures, mainly for island destinations. At the same time, it continues to consult with Brussels in order to find the additional resources, which may also include pure subsidies. Once the relevant processes are completed, it is estimated that the total amount of subsidies and interest-free loans will reach and exceed €1.5 billion.
Combined with the equity with which the eligible shipping companies will participate, the total budget for such actions is expected to potentially even approach €2 billion.
