Funding for Greece’s main basic research programs is at risk as the government has yet to activate a loan agreement with the European Investment Bank (EIB), raising fears that the Hellenic Foundation for Research and Innovation (HFRI) will be unable to continue its work.
HFRI, created in 2016, is the official agency supporting research at universities and institutes across Greece. For the first time since its founding, it has no new funding calls scheduled this year – a situation that may extend into the coming years. Researchers cited disorganization, fragmented responsibilities, and a lack of political support.
In March 2024, Greece signed a €143.07 million loan agreement with the EIB, requiring an equal national contribution. The deadline for funds to be made available is September 4, 2025, with the loan automatically canceled 30 days later if conditions are unmet. Greece must submit its request at least 15 days in advance, but no such request has been filed.
So far, €68.3 million has been committed from the Recovery and Resilience Fund and the Public Investment Program. The remaining €74.8 million awaits approval. Without it, the EIB loan cannot be activated.
A letter signed by HFRI’s scientific council president, microbiologist Athanasios Tsakris, was sent to several ministries and the prime minister’s office, urging the state to request a one-year extension and secure the necessary national funds.
The Ministry of Development said last week that “the process has begun” for a loan extension. HFRI officials called the extension “a formality” and said new proposals would be submitted in September.
Still, researchers warned that a delay will not solve deeper problems. “The deadline is not the most important issue. Even with an extension, the question is whether the state values HFRI as essential,” one scientist said.
Criticism has also focused on pressures to divide grants among many recipients rather than fund larger, high-quality projects. “With small amounts to many, there are no results – just a drop in the bucket,” another researcher said.
Earlier this year, the president and seven members of Greece’s National Council for Research, Technology and Innovation resigned, denouncing poor coordination, excessive bureaucracy and inadequate support for cutting-edge research.