NEWS BRIEF

Greece’s medical marijuana market pushes forward

Investors are making plans to pump money into Greece’s recently legalized medical marijuana market.

Cultivators are interested in investing more than 1.5 billion euros ($1.74 billion) to construct greenhouses for growing and manufacturing marijuana, according to the country’s minister of rural development and food.

Here’s what you need to know from the Bloomberg report:

  • Prime Minister Alexis Tsipras’ government plans to submit an implementation bill for a medical marijuana program by the end of the year.
  • If the bill passes on that timeline, it could allow enough time for plants to be ready for a summer harvest.
  • One operation with 12-15 marijuana greenhouses could generate 400 jobs, according to a group drafting the implementation bill.
  • Greece legalized medical marijuana in July, joining several other European nations with some form of MMJ law, including Spain, Portugal and the Netherlands.

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