Investments | Urban Redevelopment | Economy | Urban Planning | Spatial Planning

NSRF supports development of local action plans across 39 small islands

RE+D magazine

07.08.2025

By decision of the Deputy Minister of National Economy and Finance, Nikos Papathanasis, the project titled “Development of Local Action Plans under the Strategic GReco Islands Initiative” is being financed through the NSRF 2021–2027. The initiative targets 39 small islands — each with a permanent population ranging from 100 to 3,500 residents — across the Regions of the North Aegean, South Aegean, and the Ionian Islands.

As part of the Greco Islands initiative, participating municipalities from Greece’s small islands will design comprehensive Local Action Plans that articulate each island’s unique vision, strategy, and operational roadmap across six key pillars:

Energy transition
Sustainable resource management
Environmental protection
Green entrepreneurship and innovation
Digital transformation
Human capital empowerment

The initiative, with a total budget of approximately €1.5 million, is co-financed by the EU’s NSRF 2021–2027 and is being implemented by MOU S.A., the designated lead beneficiary. The 33 municipalities representing 39 small islands will participate as co-beneficiaries.

Significant follow-up funding is anticipated for the implementation of these local strategies, primarily through the “Environment and Climate Change” and “Just Development Transition” programs. Additional support will be provided by the Regional Operational Programs 2021–2027 for the North Aegean, South Aegean, and Ionian Islands.

This coordinated effort lays the groundwork for a sustainable, resilient, and forward-looking development model for Greece’s small island communities.

ΥΠΟΥΡΓΕΙΟ ΟΙΚΟΝΟΜΙΚΩΝ ΕΣΠΑ