BOOSTING THE ECONOMY

Gov’t, EIB agree new funding

gov-t-eib-agree-new-funding

Prime Minister Kyriakos Mitsotakis and European Investment Bank President Werner Hoyer confirmed on Thursday an 875-million-euro agreement for new long-term EIB financing for hundreds of local sustainable urban investment schemes and energy efficiency projects in towns and cities across Greece.

The latest EIB support for climate action in Greece will enable €3 billion of new investment to reduce energy use, cut carbon emissions, and improve public health, earthquake protection, water and waste services under two initiatives led by the ministries of Environment and Energy and Interior. The Electra program will improve energy efficiency in public buildings nationwide and the Antonis Tritsis scheme will strengthen sustainable urban investment.

Financing agreements for the first EIB loans for the two initiatives were signed between the president of the Consignment Deposits and Loans Fund, Dimitrios Stamatis, and the EIB vice president responsible for Greece, Christian Kettel Thomsen, in a virtual ceremony along with Mitsotakis and Hoyer.

“As we see the end of the pandemic in sight, as vaccinations pick up in pace, I think it is very important now to step up our effort to design the future in this post-pandemic world. Greece, as you know, has already submitted its plan for the Recovery and Resilience Fund, which has received very positive reviews from the European Union. And I am sure there will be numerous opportunities above and beyond the two agreements signed today for our cooperation to further strengthen, to further deepen and for the EIB to be an integral part in Greece’s success,” said Mitsotakis.

“The EIB Group is committed to accelerating climate action and sustainable urban investment across Greece. The new €875 million long-term financing agreed today will back €3 billon of new investment in high-impact local projects under the pioneering Electra energy efficiency and Antonis Tritsis sustainable urban investment schemes in the coming years,” said Hoyer.

“The new agreements represent the largest EIB support for energy efficiency and urban investment in 58 years of engagement in Greece. This reflects the scale and vision of our Greek partners to scale up priority investment, and the close cooperation with the EIB,” Hoyer added.