Environment, Energy and Climate Change ministry announced on October 26 plans to invest €400 million, for the period 2011-2014, from the 'Green Fund' to improve urban environment through parks and refurbishing buildings, as well as actions to prevent forest fires. €200 million will go to the "Urban Regeneration" programme for improving buildings in rundown inner city residential districts, deteriorating former industrial zones within cities and districts suffering from social, economic or environmental degradation.
Another €45 million will go on work for the prevention of forest fires and another €100 million to create open spaces within cities, compensating owners for real estate to be converted into public land. In addition, €1 million will be spent to support protected areas such as national parks, forests and lakes. Environment, Energy and Climate Change Minister George Papaconstantinou said the 'Green Fund' currently has €1 billion in its coffers, a sum expected to reach €1.6 billion by the end of the year.