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

0

Share

Published:

October 4, 2019

Country:

Comments:

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

Serbia-circular-economy-program

Serbia adopts circular economy program as Montenegro unveils draft strategy

08 December 2022 - Serbia adopts a circular economy development program until 2024, and Montenegro unveils its national strategy until 2030

EU EUR 1 billion energy support package Western Balkans

EU launches EUR 1 billion energy support package for Western Balkans

07 December 2022 - The EU will back six renewable energy infrastructure projects in the Western Balkans with grants from a EUR 500 million package

Finnish startup Cactos retrofitting old Tesla batteries other energy storage uses

Finnish startup retrofitting old Tesla batteries for other energy storage uses

01 December 2022 - Cactos from Finland gives alternative purposes to second-life electric vehicle batteries, with the help of its cloud-based software

HERMANN Petr_interview_Schneider Electric BGEN

Future of successful businesses relies on their digital transformation

30 November 2022 - Digitalisation changes everything because it connects all processes and provides a complete result, notes Petr Hermann, Schneider Electric Cluster President, Southeast Europe, in an interview for the Balkan Green Energy News