Objectives

Objectives and responsibilities of Regional Development Fund 

The main objective of the Regional Development Fund is the management of the Public Investment Program (PIP) funds and other funding, which are related to the regional and special development programs of the Region.

Among its responsibilities is also the support of the Executive Committee’s work, the Region’s technical support in the field of studies and research, its financial management, participation in EU programs as well as other responsibilities as described in the provisions which govern it.

RDF, on the one hand, operates as an financial manager (financial liable) of the Public Investment Program projects and European Structural Funds, on the other hand, makes use of its potential for the implementation of European Programs and various studies and research, supports the development process in the region concerned.

 

According to article 190 of Law 3852/2010, the responsibilities of RDF of REMTh are the following:

  • The management of the public investment program, financing of public sector bodies and other legal entities, financing from programs of the European Union and other international organizations and other bodies abroad concerning the regional and local authorities’ special development programs of the Region.

  • By way of exception to the current provisions on public investment, the Regional Development Fund is designated as the financial manager (financial liable)  responsible for project payments at the expense of the Public Investment budget.

  • Supporting the work of the Executive Committee and its Directorateς.

  • Supporting the developmental planning of larger spatial development departments, providing the necessary information to the relevant departments.

  • Technical support of the Region, particularly in the field of studies and research and implementation of programs to the Fund or the Region to make more efficient use of resources.

  • The imposition, certification and collection of fees, rights and contributions to the Fund, following a decision of the Regional Council and approval by the Minister of the Interior, Decentralization and eGovernment.
  • Participation in European Union programs

  • The conclusion of loans with domestic and foreign financing institutions for the execution of projects, the provision of services and the implementation of programs.

  • The provision of services, the conducting of surveys and the development of technical, economic and organizational studies, as well as the supervision and implementation of programs that are entrusted to the Fund by the Ministries, by the Region, by the Decentralized Administration, by municipalities and by Legal Entities
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