Renewables

Four systemic Greek banks join EUR 650 million sustainable infrastructure program – EIB

Four systemic Greek banks

Photo: Twitter.com/eib

Published

October 4, 2019

Country

Comments

comments icon

0

Share

Published:

October 4, 2019

Country:

Comments:

comments icon

0

Share

The European Investment Bank (EIB) has confirmed in a press release involvement of four systemic Greek banks in a new EUR 650 million green infrastructure investment program.

Confirmation of the involvement of the four systemic Greek banks – Alpha Bank, Eurobank, National Bank of Greece, and Piraeus Bank – will enable EUR 650 million for new sustainable investment across Greece, the press release reads. The Infrastructure Fund of Funds will combine national and European Commission resources (ESIF) and accelerate clean energy investment, including energy efficiency and renewable energy and sustainable urban development projects, the EIB said.

Sustainable projects being considered for investment under the new Fund of Funds scheme include wind farms, photovoltaic installations, biomass and biogas plants and hydroelectric power stations. New investment to improve energy efficiency in the public and private buildings will also be examined.

Reflecting the importance of supporting socio-economic development the new initiative will unlock high-impact investment in projects including industrial parks, education, and cultural facilities, tourism facilities and conference centers.

The Hellenic Ministry of Development and Investments established the Infrastructure Fund of Funds with the EIB to maximize the impact of European Structural and Investment Funds, along with national funds sourced from an EIB loan and proceeds returned from previous urban investments under the JESSICA initiative.

Once fully operational, the new infrastructure scheme will provide financing of EUR 450 million unlocking total investments of at least EUR 650 million for sustainable projects across priority sectors. The European Structural and Investment Funds contribution comes from the Operational Programme Competitiveness, Entrepreneurship and Innovation 2014-2020.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Cities are driving the transition to climate neutral and fair housing

Cities are driving the transition to climate neutral and fair housing

19 May 2025 - City governments are ready to lead the transition to climate-neutral buildings by 2050, but they cannot do it alone

serbia germany kfw heating plants renewables district heating konrad muler

Serbia to invest EUR 60 million in renewables in district heating

16 May 2025 - The Minister of Mining and Energy met with Ambassador Anke Konrad and KfW's Director for Southeast Europe and Turkey Klaus Müller

North Macedonia Law on Energy

North Macedonia adopts Law on Energy

15 May 2025 - With a majority of votes, 62 out of 120, the Assembly of North Macedonia adopted the Law on Energy, aligning the legal framework with the EU

croatia subsidies energy poverty fzoeu

Croatia sets EUR 25 million in incentives for energy poor households

22 April 2025 - Croatia has earmarked EUR 25 million for households at risk of energy poverty. They will use the funds for energy renovation