Greece will release 286 million euros through 2028 to fund scientific research and curb its persistent brain drain, Development Minister Takis Theodorikakos has said extending a strategic loan agreement with the European Investment Bank to channel state and institutional capital into the Hellenic Foundation for Research and Innovation.
Speaking at the 171st meeting of presidents of Greece's research centers and technology bodies, Mr. Theodorikakos said the extension was coordinated with the Ministry of National Economy and Finance.
He noted that national research and development spending has risen 68 percent over six years, climbing from 2.2 billion euros in 2018 to 3.65 billion euros in 2024 — now equivalent to 1.54 percent of GDP. Backed by corporate tax deductions of up to 315 percent for green and collaborative research ventures, the push has generated 20,000 specialized domestic jobs since 2019.
Mr. Theodorikakos outlined four immediate organizational priorities: simplifying the management of jointly funded projects, accelerating integration with Recovery Fund resources, increasing staffing flexibility for ongoing scientific programs, and improving coordination across the country's research institutions.
The funding boost reflects a broader government effort to reverse years of skilled emigration that accelerated during Greece's financial crisis, as Athens seeks to position itself as a competitive base for research and technology talent within the EU.