Greece Plans €650 Mn Of Green Infrastructure Projects
The initiative combines European Union, national and European Investment Bank (EIB) funds.
The National Bank of Greece is the first partner bank for the scheme and will identify and invest in new projects expected to include wind and photovoltaic parks, biomass and biogas plants, energy efficiency in public and company buildings. Urban schemes intended to rehabilitate deprived districts are also expected to benefit as too are projects involving water and waste management and tourism.
In addition, the National Bank of Greece will provide its own funds and help mobilise additional private funds for the financing of these projects. Other leading banks active in Greece are also expected to become partners under the Infrastructure Fund of Funds.
The Hellenic Ministry of Economy & Development established the Infrastructure Fund of Funds with the EIB. The aim is to maximise the impact of European structural and investment funds, national funds sourced from an EIB loan and proceeds from a previous urban investment initiative.
Once fully operational the new infrastructure scheme will provide financing of €450m, unlocking total investments of at least €650m for sustainable projects in the priority sectors.
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