Greece receives record 5 billion euros in funding from EIB in 2021

·

By Eleni Patsalides.

The European Investment Bank (EIB) extended its support to Greece in 2021 with a €5 billion investment for businesses which have been affected by COVID-19 and to shift the nation to clean energy.

Through the European Guarantee Fund, EIB offered €2.7 billion in guarantees to help companies affected by COVID-19 and lockdowns secure loans through Greece’s four largest lenders Alpha Bank, Eurobank, National Bank and Piraeus Bank.

Piraeus Bank.

Through these guarantees, more than €6 billion in tourism, green energy and digital economy will be mobilised, as stated by Finance Minister Christos Staikouras.

According to an EIB statement, the EU finance body has signed an agreement with the Greek finance ministry “to help manage up to €5 billion as part of Greece’s implementation of the national recovery and resilience plan, known as ‘Greece 2.0’.”

These funds are due to be received from the European Union’s pandemic recovery fund in the coming years.

Athens is due to receive €19.4 billion in grants and €12.7 billion in cheap loans from the fund, an equivalent of about 16 percent of its gross domestic product.

The Greek government plans to use the funds to make the nation’s economy greener and push its digital presence.

Source: Ekathimerini, PV Magazine

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Valentine’s Day, Greek Style: Two couples reflect on love, family and tradition

This year, The Greek Herald decided to speak with two Greek Australian couples from across the nation to ask them how they met.

‘It’s Story Time’ with Sophia Amarandos: A mini dating series on finding love

Sophia Amarandos is on her very own Bridget Jones-esque quest to find love, no matter how many glasses of wine and awkward dinners it takes.

Macquarie University leads the way in Greek Language Certificate awards ceremony

Over 200 people attended the award ceremony of the Certificates of Attainment in Greek Language 2024 that took place at Macquarie University.

Taste of the Aegean: Meet the Greek foodies bringing flavour to Antipodes 2025

This year’s Antipodes Festival is celebrating Greek culture and food with 'Taste of the Aegean,' proudly supported by The Greek Herald.

Inner West Hawks FC kick off 2025 season with memorable launch event

The Inner West Hawks FC officially launched their 2025 season with a vibrant celebration at Club Five Dock RSL on Wednesday, February 12.

You May Also Like

Lonely Planet votes Ikaria as best in travel for 2024

Lonely Planet has ranked the small Greek island of Ikaria as 7th on the list for the best value destinations in the world for 2024.

Mary Kotsopoulos joins calls for technology accessibility to help people with Type 2 diabetes

More than 1.5 million Australians are living with diabetes. Around 1.3 million Australians have been diagnosed with Type 2 diabetes (T2D).

Greek trial into COVID-19 treatment ‘very encouraging,’ scientists says

The results from a Greek trial into the benefits of anti-inflammatory agent colchicine in treating COVID-19 are “very encouraging,” says head scientist.