BUSINESS

New Infrastructure Fund to invest in energy efficiency, sustainability

TAGS: Initiative, Economy, Energy, Environment

Greece’s new Infrastructure Fund will have resources of 450 million euros to work with and the participation of the country’s four systemic banks to contribute to high-priority sustainability projects worth at least 650 million euros.

The participation of Alpha, National, Piraeus and Eurobank was confirmed on Monday during a visit to Athens by European Investment Bank (EIB) Vice-President Andrew McDowell, where he met with Deputy Development Minister Yiannis Tsakiris.

The Infrastructure Fund is a joint initiative by the Finance Ministry and the EIB, aimed at bankrolling projects like wind farms, photovoltaic parks, biomass and biogas plants, and hydroelectric stations.

The fund will also be looking into bolstering new investments aimed at improving the energy efficiency of public and private buildings, while a number of smaller projects that the fund will be backing concern the exploitation of abandoned spaces by new commercial activities.

The Infrastructure Fund will be using national resources in combination with European structural and investment funds.

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