Priority investment in high-impact small scale projects across Greece will be accelerated following agreements signed with the European Investment Bank
“Investment to improve health and education, enhance economic opportunities, and strengthen climate action is key for Greece in these challenging times. Today’s new EUR 200 million agreement will contribute to long-term financing and accelerate a green recovery following the COVID-19 pandemic. The excellent cooperation between the Greek authorities and the EIB Group’s Investment Team for Greece is testament to the enduring, intense, positive relationship between the country and the EU Bank.” said Werner Hoyer, President of the European Investment Bank.
This key agreement will enable schemes under the Greek 2014 – 2020 Partnership Agreement between EU and Hellenic Republic to be smoothly financed and increase economic and social impact. The latest EUR 200 million EIB financing represents the final tranche of EUR 1.7 billion European Investment Bank support for the Greek national contribution to EU structural fund backed priority investment across the country,which are co-financed by the EU Structural and Investment Funds. This will enable projects under the EUR 18.6 billion six-year European Union Programme to be completed or expanded to increase economic and social impact.
Unlocking high impact investment across key sectors
Confirmation of EIB financing will accelerate crucial investment in research and innovation, communications, sustainable transport, water, waste, renewable energy and energy efficiency, health, education and urban regeneration projects across Greece.
Enhancing climate action in Greece
More than 25% of the projects will reduce climate emissions and reduce the impact of climate change and help Greece to contribute to global climate goals. This includes schemes to cut energy bills and carbon emissions by improving energy efficiency, smart energy distribution, and improving water management. Increasing EIB cooperation with Greek authorities During the visit to the EIB the Deputy Minister of Development and Investments, responsible for Public Investment and Structural Funds in Greece, discussed ways to increase technical cooperation with the EIB to enhance the impact of future investment in the country with President Hoyer, Vice President Kettel Thomsen and the EIB’s dedicated Investment Team for Greece.