Minister of National Economy and Finance Kostis Hatzidakis is set to present a new bill today, Wednesday, that seeks to improve the use of assets earmarked for public benefit, including scholarships, infrastructure projects, and social welfare programs.
The legislation updates Greece’s legal framework for charitable estates, which has been in place since 2013, with the goal of enhancing both oversight and administration. These estates consist of assets such as real estate and financial funds that have been donated through inheritances, bequests, or endowments to support public causes. Beneficiaries can include the state, municipalities, or other legal entities, with funds directed toward philanthropic, educational, cultural, religious, or scientific initiatives.
A significant aspect of the reform focuses on the management of unclaimed inheritances—estates that lack known heirs or have not been accepted by their legal beneficiaries. The Directorate of Charitable Estates will oversee these assets, ensuring they are put to optimal use while respecting the original wishes of donors. Such assets play a crucial role in funding hospitals, schools, nursing homes, and libraries, while also supporting scholarships, social assistance programs, and scientific research.
Transparency and accountability are key priorities in this overhaul. A digital platform, the Charitable Estates Information System (ΨΥ.ΔΗ.ΠΕ.Ε.Κ.), is being used to monitor and manage these assets more effectively. Additionally, government agencies are working closely with municipalities and other organizations to ensure that charitable donations and bequests are utilized efficiently for the benefit of Greek society.
