H.F.R.I. Portal

Financial Resources

Foundation resources may fall under:

  • All types of funding/grants from the State Budget (regular and Public Investment Program).
  • Funding and all types of aids or grants from European Union bodies and organizations, and other European or international organizations.
  • Funding in line with the Agreement dated 15.07.2016 between the Hellenic Republic and the European Investment Bank; said funding is managed by the Foundation as a beneficiary, on behalf of the Hellenic Republic.
  • Donations, aids, inheritances, legacies, grants, sponsorships and all types of contributions from natural persons or legal entities of the public or private sector, in Greece or abroad.

The Foundation in compliance with provisions in force, the Agreement dated 15/07/2016 between the Hellenic Republic and the European Investment Bank, the H.F.R.I. Internal Regulation, manages its resources through a special treasury management account retained in the Bank of Greece. The funding that was granted based on the Agreement dated 15/07/2016 between the Hellenic Republic and the European Investment Bank constitutes loan revenue of the State Budget and an equal amount has been registered in a Foundation-specific budget code of the Ministry of Development and Investments, amounting to €180,000,000. Out of this amount, €90,000,000 has been remunerated, while another €36,000,000 is expected to be remunerated within 2020.

Additionally, H.F.R.I. has received funding to the amount of €120,000,000 from the co-financed part of the Public Investment Program, €60,000,000 of which at the end of 2018. A donation from the Stavros Niarchos Foundation to the amount of €5,000,000 was approved within 2019, to be used as a bridging fund for researchers who have submitted research proposals to Calls by the European Research Council (ERC), have been evaluated and ranked with A or B during the second phase, but have not been funded. Total budget for the action amounts to €10,000,000.