Hellenic Republic Asset Development Fund (HRADF)

Hellenic Republic Asset Development Fund (HRADF)

HRADF: Attracting FDI for Greece

The Hellenic Republic Asset Development Fund (HRADF) was established in 2011 (founding Law No. 3986/2011) to privatize public assets in order to reduce public debt. Its mission, in close cooperation with the Greek Government, is to attract direct investment in order to maximize revenues for the State, as well as to restart the economy, according to the country's international obligations and the Medium-Term Fiscal Strategy, having full responsibility for the application of the respective policy.

Its sole shareholder is the Hellenic Corporation of Assets and Participations (HCAP). The assets included in the Medium-Term Programs have already been transferred to the Fund and they can be summarized in the following three categories: Land Development, Infrastructure, Corporate. Whilst the statutes of the Fund are to increase proceeds as any money collected is used to repay State debt, significant thought and care is taken to maximise value to all stakeholders including local communities, the relevant industry and the investor – it is of great importance to the Fund to ensure that FDI in the country increases and to this end it is absolutely critical that investors who acquire State assets are successful. The Fund’s asset portfolio is very diverse as it includes both companies and physical assets in a wide range of sectors and industries, such as ports, marinas, water supply companies, gas companies, highways, energy companies, airports as well as real estate.

HRADF secures the privatization processes by operating under three non-negotiable values and established principles: Clarity: Every project is examined in depth and in close co-operation with our consultants, seeking the optimum way of privatization. Transparency: There are established corporate governance policies, employed internal and external auditors. Efficiency: HRADF engages actively with all stakeholders to eliminate administrative and technical barriers, expedite processes and support the investors.

HRADF has been awarded as the most transparent and important foreign direct investment program by international publishers (The European, The Investor, The International Finance).