The Greek Shipping Ministry announced this week that it had approved roughly 4 million euros in transport subsidies to be distributed to Greek island residents and businesses under the government’s Transport Equivalent (“metaforiko isodynamo”) scheme.

A total of 26,655 eligible island residents will have access to a total of 2,473,375 euros, while 3,288 eligible businesses will share 1,513,818 euros, bringing the total payout to nearly 4 million euros.

The “Metaforiko Isodynamo” program helps offset the higher transportation costs faced by residents and businesses on 49 remote Greek islands, offering subsidies for the movement of passengers, goods and essential supplies.

According to the Ministry of Shipping and Island Policy, the latest payments will be made through the General Secretariat for Aegean and Island Policy and include subsidies covering the transport of liquid fuels to the islands during 2024.

“The Transport Equivalent provides substantial support for island communities, where high transport and fuel costs increase prices and place an additional burden on households and businesses,” said Island Policy Minister Vassilis Kikilias this week.

The ministry also announced that the online platform for submitting claims related to 2023 transport expenses will open on July 7, 2026, with applications accepted until July 31, 2026. The subsidy program is available to businesses based on Greece’s island regions and is designed to help cover the cost of transporting goods. The scheme has an annual budget of 40 million euros.