Regional Authority development organisation, ΄Ionian Development΄ in the works

The Ionian Islands Regional Authority is proceeding with the establishment of a Local Authorities Development Organisation with the title "Ionian Development". The matter will be proposed today by the Regional Governor, Mr. Yiannis Trepeklis, during the extraordinary session of the Regional Council, scheduled for 3 p.m. via teleconference.

The Council isbeing called upon to decide on the approval of the economic feasibility study for the establishment of the Local Authorities Development Organisation of the Ionian Islands Region, under the distinctive title "Ionian Development".

Additionally, the approval of the Statute of the Development Organisation will be discussed, along with the allocation (and approval) in the budget of the Ionian Islands Regional Authority, of an amount of 1 million Euros for its participation in the Share Capital, as well as the provision of authorisations for the necessary procedural actions (notarial document, registration in the GEMI, issuance of Tax Identification Number, etc.).

Development Planning

As stated in the proposal of the Regional Governor, through the Development Organisation, a comprehensive, flexible, and transparent development plan for the Ionian Islands Region can be promoted, as well as significant international economic collaborations.

Specifically, the company's scope will include, among other things, scientific and technical support for the Region, promotion of its business, economic, and overall sustainable development, study of the economic and touristic activity of the Region, and upgrading of the tourist product.

Additionally, it aims to stimulate economic activity, employment, investment attraction, and improvement of infrastructure, including the agricultural sector, planning and implementation of social policy actions, as well as the development of environmental protection activities and participation in various programmes and initiatives within the framework of its goals or the implementation of relevant policies on a cross-regional or broader geographic scale.

Purpose

The primary purpose will be to operate as a hub for the collection, synthesis, and redistribution of information, expertise, resources, and services, contributing to the creation of modern mechanisms and systems that will result in standardised and simplified methods and procedures. The company's activity will be developed along multiple axes, leveraging all available financial means and tools.

The envisaged axes are: Tourism/Internationalisation, Culture/Sports/Education, Entrepreneurship/Investments, Environment/Quality of Life, Health, Digital Era, Transportation, Technical support (project maturity), Human/Social Policy.

Duration

The duration of the company is set at 20 years from its legal establishment, while it can be extended by decision of the general assembly of its shareholders. The Ionian Islands Regional Authority and Regional Development Fund will participate as shareholders. The Regional Authority will contribute €900,000, while the Development Fund will contribute €100,000, each receiving the corresponding percentage of the company's share capital.