Establishment of a Special Trust Account between P. P. & Loans and Local Authorities

A contract for the establishment of a Special Trust Account was signed between the Deposits and Loans Fund and the 1st Grade Local Government Organisations participating, as beneficiaries, in programme “Promoting employment through public benefit programmes (unemployment follicles)”. Through this account, the Deposits and Loans Fund will subsidise the beneficiary municipalities for all or part of the cost of the materials or services required for the implementation of the projects included in the above programme, in which the beneficiaries of the programme will be employed. In this way, the Receipts and Loans Fund, a local government supporter for many years, confirms, in the extremely difficult economic conditions experienced by the whole society, and especially the regions with increased unemployment, its role as a critical financial mob at local and regional level, as well as supporting policies for the economic recovery and construction of a sustainable future.