EIB to fund Greek real economy to tune of €135 million - The Best from Greece

On 9 December, the European Investment Bank (EIB) as the manager of the JESSICA Holding Fund Greece signed two agreements valued at €135 million to support the real economy of Greece. €85m has been allocated for the establishment of an Urban Development Fund with the National Bank of Greece to invest in urban projects.

The Urban Development Fund will invest the budgeted sum in the next four years in projects such as rehabilitation of deprived urban areas, basic infrastructure works, development of high-technology clusters and added value infrastructure, water and waste management, energy networks and energy efficiency.

The allocated funds will be divided between several regions of Greece – Attica, Western Greece, and the Ionian Islands. An additional €10m will be invested in 'Convergence' Regions of Eastern Macedonia and Thrace, Northern Aegean, Epirus, Thessaly, Western Greece, Ionian Islands, Peloponnese, and Crete.

EIB Vice-President Plutarchos Sakellaris emphasised that the EIB is “injecting another €135m into the real economy of Greece days after signing €15m in agreements for urban projects on Crete”.