EIB grants 24 million-euro loan to NCSR “Demokritos”

EIB grants 24 million-euro loan to NCSR “Demokritos”

The European Investment Bank’s 24-million funding (EIB) constitutes a case of significant support towards Greece’s largest public research center and for addressing the brain drain issue recorded in the field of research.

The loan will be directed towards the construction of new research buildings and the refurbishment of existing infrastructures at the Democritus National Science Research Center, Greece’s largest public research center, with a total budget of 48 million euros.

The loan is a continuation of the funding recently provided by EIB in the field of education in Greece, supporting nine Greek universities as well as the creation of the Hellenic Foundation for Research and Innovation, the Bank’s announcement states.

The project also received support from InnovFin Advisory (InnovFin), one of the InnovFin program’s tools, which advised Democritus on how to improve its access to finance.

The project involves the construction of three new buildings and the renovation of existing facilities to house high-profile research institutes. It will also enhance the capacity of the Lefkippos Technological Park, located within the Democritus complex, to increase the potential for collaboration between Greek and international business partners.

Upon the completion of the project, it is expected that 100 jobs will be created for specialized senior researchers, while more than 38,000 square meters of specialized research facilities will be renovated or improved, according to the EIB announcement.

The European Investment Bank’s 25-year loan -the first granted by EIB for the National Democritus National Science Research Center, was signed today at the Center’s premises by Christos Dimas, Undersecretary for Development and Investment, alongside Andrew McDowell, Vice President of the European Investment Bank; Vice-President of the European Commission Mr. Margaritis Schinas; various researchers and executives from Democritus.

It is worth noting that Democritus is the largest interdisciplinary research center in Greece, with approximately 630 researchers working on research projects funded mainly by public grants, European Union resources and private funds. The Center comprises five independent Institutes that specialize in different fields and operate under the supervision of the General Secretariat for Research and Technology, which belongs to the Ministry of Development and Investment. /ibna