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New green and urban infrastructure investment scheme to be launched in Greece

It will support renewables, energy efficiency and urban projects
  • August 02, 2019 09:30
  • Author Monika Dimitrova
Medium greeceeib

The European Investment Bank and National Bank of Greece will launch a new green and urban infrastructure investment scheme. They will invest in renewable energy, energy efficiency and urban development projects across Greece, announced the EIB. The first agreement is at a total amount of 650 million euros for infrastructure investments.

The National Bank of Greece is the first partner bank part of the Infrastructure Fund of Funds which will invest in new projects as wind and photovoltaic parks, energy efficiency in public and company buildings, biomass and biogas plants. Projects aimed to rehabilitate deprived districts, water and waste management systems as well as tourism initiatives will also be beneficiaries. The National Bank of Greece will allocate a portion of its own funds and help mobilise additional private funds for the funding of these projects. Other Greek banks are also expected to become partners under the Infrastructure Fund of Funds.

The new infrastructure scheme will provide financing of 450 million euros unlocking a total investments of at least 650 million for sustainable projects in the priority sectors. The European Structural and Investment Fund contribution comes from the Operational Programme Competitiveness, Entrepreneurship and Innovation 2014-2020.

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