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EIB provides Greece with support for crisis management

EIB provides Greece with support for crisis management

Hundreds of millions of euros will be used to strengthen the country’s disaster management structures and its COVID-19 response

Greece’s civil protection will be strengthened and transformed thanks to a 600-million-euro loan provided by the European Investment Bank. The agreement was concluded earlier this week and it will pave the way for the country to better tackle the ongoing COVID-19 emergency and to be better prepared for the mitigation or prevention of other kinds of disasters that might come in the future.

Preparing for the worst

Thanks to the funding, not only will the country’s COVID response be strengthened but so will its abilities to handle environmental calamities. The loan will provide all 13 Greek regions with the means to better tackle floods, earthquakes and forest fires and will thus create better odds to prevent the loss of life.

“The protection of human life from natural disasters and pandemics is a constant top priority for Greece and has become even more crucial after last year's challenges due to severe weather phenomena and COVID-19 pandemic. Today’s important new agreement with the European Investment Bank will transform civil protection across Greece and help achieve this goal.

The European Investment Bank is a key partner of Greece and the new EUR 595 million loan agreed today, following the systematic, hard work done by the Greek Civil Protection and rapid EIB approval, demonstrates how the EIB is supporting visionary investment to fortify Greece against natural disasters, extreme weather and pandemics.” said Christos Staikouras, Minister of Finance of the Hellenic Republic and Governor of the European Investment Bank.

The loan is the single biggest investment in civil protection in Greece and will provide not only additional gear to tackle emergencies – such as helicopters, field hospitals and other kind of equipment, but will also see the entire restructuring of the entire mechanism over the next 5 years, enabling a quick response to crises and advanced local preparedness for potential dangers.

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