BUSINESS

EIB to finance the expansion of Demokritos

TAGS: Finance, Science

The European Investment Bank signed an agreement with the Greek government on Friday for a loan to finance 50 percent of the cost for the 48-million-euro expansion and modernization of the Demokritos National Center for Scientific Research in Athens, the largest public research center in Greece.

The EIB will provide 24 million euros for the project that includes construction of three new buildings and renovation of existing facilities to host renowned research institutes.

The new investment will also expand capacity at the Lefkippos Technology Park, located within the Demokritos campus, to enable increased research collaboration between Greek and international business partners.

One hundred senior specialist research jobs are expected to be created once construction is complete and more than 38,000 square meters of specialist research facilities will be constructed, renovated or improved.

The 25-year loan, the first ever EIB support for Demokritos, was formally signed on Friday at the Demokritos campus by Deputy Minister of Development and Investments Christos Dimas and EIB Vice President Andrew McDowell.

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