EIB grants Greece an additional 330 million-euro loan

EIB grants Greece an additional 330 million-euro loan

The European Investment Bank (EIB) today agreed to continue to support new priority investments in Greece, aimed at increasing energy efficiency and tackling climate change; enhancing the competitiveness of small businesses; accelerating research and innovation; and supporting initiatives in the fields of health, education, culture and urban regeneration in the country. The € 18.6 billion investment program under the NSRF 2014-2020 program has successfully contributed to supporting small and medium-scale priority projects across Greece since 2014, as well as avoiding delays in the implementation of high impact projects that are important for sustainable development and the recovery of the economy.

The new European Investment Bank loan for priority investments in Greece was signed at the Ministry of Finance in Athens by Andrew McDowell, Vice President of the European Investment Bank, Christos Staikouras, Minister of Finance and Governor of the European Investment Bank, and Giannis Tsakiris, Deputy Minister of Development and Investment.

The signing was also attended by Minister of Development and Investment Adonis Georgiadis and Minister of Infrastructure and Transport Kostas Karamanlis.

Minister of Finance and Governor of the European Investment Bank Christos Staikouras stated: “New investments in the field of climate action, in small business, in innovation and the social sector are crucial to accelerating economic growth, improving health and education services and creating new business opportunities in Greece”.

Giannis Tsakiris, Deputy Minister for Development and Investment stressed in this regard: “The EIB’s contribution to co-financing national NSRF participation began in the previous 2007-2013 programming period and particularly in 2010”.

Andrew McDowell, Vice President of the European Investment Bank, noted: “The European Investment Bank is happy to support this national program with today’s signing of a new € 150 million-loan which will provide new funding for the latest projects , of which almost 1/5 is climate related”.

The € 150 million-loan agreement signed today is the latest to a number of cases of EIB supporting the Partnership Agreement with Greece. EIB provides a total of 1.7 billion euros for Greece’s national participation in the investment program, which is co-financed by the European Structural and Investment Funds.

Enhancing climate action

The investment program is expected to contribute to the implementation of new projects in the fields of smart energy, energy efficiency and renewable energy sources in the country and to improve water and waste management. It will substantially support climate action by reducing carbon emissions and by helping projects adapt to changing and more extreme climates. /ibna