EIB to Fund Small Scale Climate, Social Projects in Greece

Deputy Development & Investments Minister Yiannis Tsakiris and EIB President Werner Hoyer

The European Investment Bank (EIB) and Greece agreed on Monday to allocate 200 million euros in funds to accelerate small-scale investments in innovation, entrepreneurship, clean energy, environmental protection, education and health.

The funding is aimed at ensuring competitiveness of Greek companies, promoting entrepreneurship, and improving skills.

“Today’s new 200-million-euro agreement will contribute to long-term financing and accelerate a green recovery following the Covid-19 pandemic,” said EIB President Werner Hoyer. 

The latest funds released are the final tranche of a 1.7-billion-euro EIB injection to support priority investments across the country. The aim is to facilitate projects under the 18.6-billion-euro, six-year EU program to be completed or expanded to increase economic and social impact.

“[A total of] 1.7 billion euros in support from the European Investment Bank is speeding-up and making best use of European Union structural funds to strengthen the competitiveness of Greek companies, promote entrepreneurship, improve skills, better protect the environment, complete climate mitigation projects and ensure that priority projects are completed,” said Greek Finance Minister Christos Staikouras.

The minister added that the close cooperation between Greece and the EIB “is delivering new opportunities and substantially contributing to Greece’s strong, sustainable and inclusive recovery from the health, social and economic challenges of Covid-19”.

On his part, Deputy Development & Investments Minister Yiannis Tsakiris said the ministry in its role as coordinator in matters of investments, financing and development was committed to furthering the partnership.