How the developer will subsidize Kochlonis with 2 million euros for an investment of 9.9 million euros

By Giorgos Lampris

Key provisions of the previous Development Law 4399 of 2016 showed significant differences compared to the new Development Law passed by the current government in 2022 (4887/2022). Commercial applications such as Nikos Koklonis Even if they don’t meet the basic qualifications. It eventually approved their investment plan and its implementation grant. These are basically the provisions of the old law that came to amend the new law passed by Parliament in February of the previous year. Thus, key provisions of the previous Development Act paved the way for the approval of investment plans for companies such as Nikos Kochloni’s Barkingwell Progress MIKE. A company must declare its intention to obtain a bank loan.

Advanced Cybernetics explains the differences between the two laws

This was explained by a top government source close to the Ministry of Development Capital.gr“The previous law accepted the creation of companies, the new law 4887/2022 does not provide. But on top of that, the old developer accepted the notification that the company intends to get a loan, while the new one is required by law to obtain pre-approval from the bank for the loan”.

The same person points out that under the previous law, a company could prove the existence of equity in different ways, for example by declaring that it owns real estate, while the current law requires it to prove that investment money has been deposited. in the bank account, by providing necessary documents to prove the same.

Another parameter is that the old law stipulated that the minimum score required for an investment scheme to be considered eligible should not exceed 10 points. , effectively tightening the regime regarding the eligibility or otherwise of an expenditure.

Transfer of signature from Minister to Director General, Ministry of Development

It is also worth noting that with the Act on the Status of Employees passed by the current government in 2019, the final signature of individual administrative acts has been transferred from the Deputy Minister of Development to the Director General. Then the minister is simply informed about the signature. It is pointed out that regulatory functions like KYA, tender notifications, commissions were the responsibility of the Minister and the Deputy Minister. So if a citizen submits an application for inclusion in the Development Act. It is completely officially administered, signed by the General Manager and notified to the Minister of Development and the Deputy Minister of Development.

What happened to Kochloni’s application for inclusion in the Development Act?

Entrepreneur and TV presenter Nikos Kochlonis had filed an application based on the provisions of the previous Development Law 4399/2016 in the context of strengthening the entrepreneurship of very small and small businesses. The Barkingwell Progress MIKE is aimed at establishing television, video and motion picture production facilities and the total eligible cost is 9,935,712.09. The subsidy of the specific investment program from the state was in the amount of 2,086,499.54 euros, the payment of which depends directly on the implementation of the investment. The Ministry of Development argued in this regard With his announcement“Till date, no request for grant, nor request for control of implementation has been submitted by the organization and hence the grant cannot be disbursed”. The ministry also points out that no subsidy has been provided. See the amount of 9,935 .712.09, but the amount of 2,086,499.54 is the amount of the grant that Barkingwell will advance if Kochlonis implements the investment submitted an investment plan.