EIB to assist with energy investments on Greek islands
The European Investment Bank Group signed a new contract with the Greek Ministry of Maritime Affairs and Island Policy this week for technical assistance from the bank’s Advisory Hub which will help facilitate crucial investments to boost energy efficiency and renewable energy investments on the country’s smaller and remote islands.
Regions from the Ionian Sea, the Northern Aegean and Southern Aegean, to Crete will benefit from the agreement.
The Advisory Services Agreement provides for the development of an online tool that will improve operational capacity and allow the Consignment Deposits and Loans Fund (CDLF) to rapidly handle, monitor and report on loan requests under the Nearchos Program, which aims to implement a total of 500 million euros’ worth of infrastructure and energy efficiency investments, among other projects, across the country’s smallest and remote islands.
EIB experts, in collaboration with external service providers, will also provide training to local staff on the use of the tool and assist in the rollout of the digital system.
The investments under the Nearchos Program will be implemented by the CDLF, and this new comprehensive advisory package follows on the successful implementation of a similar online tool developed for the CDLF by the EIB, in support of the landmark Electra Program, targeting investments in energy efficiency in buildings.
