FINANCE

EIB support for power transition

eib-support-for-power-transition

Public Power Corporation and the European Investment Bank are to announce on Wednesday what the EIB dubs “a groundbreaking new financial support package,” in the context of the visit by the lender’s leadership to Greece.

In what is the first high-level EIB visit to Greece since March 2020, EIB President Werner Hoyer will make several key announcements to highlight the close cooperation between the two parties and demonstrate the EIB’s commitment to delivering as key partner for long-term private and public investment in Greece.

Accompanied by EIB Vice President Christian Kettel Thomsen and Alain Godard, the CEO of the European Investment Fund, Hoyer is set to meet Prime Minister Kyriakos Mitsotakis and Finance Minister Christos Staikouras, and announce EIB and EIF support for 1.9 billion euros of new targeted financing to support companies affected by the pandemic, energy investment and targeted support for regions impacted by the energy transition.

In that context, the EIB and EIF officials will visit PPC’s headquarters on Wednesday afternoon and on Thursday they will meet Energy Minister Kostas Skrekas to outline EIB support for decarbonization and the energy transition.