Development and Competitiveness Minister Costis Hatzidakis submitted Greece's proposals yesterday to the EU regarding the National Strategic Reference Framework (NSRF) funds for the new programming period 2014-2020. The new NSRF encompasses the national priorities for an integrated development plan and focuses on enhancing entrepreneurship, public administration effectiveness, green growth (including employment opportunities), the fight against unemployment and poverty.

The new NSRF will include the following national operational programmes: "Entrepreneurship & Competitiveness" which will absorb 25% of the NSRF budget, "Environment & Transports” (24%) "Education, Training & Employment" (13%) and "Reform of the Public Sector." The remaining 35% of the NSRF budget will be earmarked for the regions.

Hatzidakis also said that all funds would finance to projects of higher return on investment ratio, while the Greek region would absorb 35% of NSRF funds, over its 22% they handled under the previous programme, 2007-2013.