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The European Investment Bank has invested the record 3.2 billion euros in Greece only in 2010

28 February 2011 / 15:02:03  GRReporter
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Greece has received the record amount of 3.2 billion euros from the European Investment Bank in the past 2010. For comparison, the investments made by the same institution in 2009 were twice as little, or 1.6 billion euros. These data were reported by Plutarchos Sakellaris, Vice President of the European Investment Bank at its annual conference in Athens.

The largest part of the amount - 2 billion euros - has been spent on direct investment loans of strategic importance within the National Strategic Reference Framework. Another 426 million euros have been allocated to the National Electricity Company for the construction of gas power plant in the city of Thebes, and for the improvement of the national grid. 400 million euros have been submitted to the Greek oil company for environmental modernization of the refinery in Elefsina.

The Athens underground has received 150 million euros to expand its network. This means that the total investment of the European Investment Bank in the Athens and Thessaloniki undergrounds since 1999 amounts to 2.4 billion euros. Schools throughout the country have received 100 million euros for repairs. 50 million euros have been granted to the municipality of the city of Iraklio on the island of Crete to improve the infrastructure. The company Farmaterm has received 25 million euros for research.

"The European Investment Bank will continue to support Greece in its strive to stabilize the economy," said Plutarchos Sakellaris but refused to state a specific figure to be investment in 2011. One of the projects that the Bank will fund in Greece this year is the celebration of the 30th anniversary of Greece’s accession into the European Union. Sakellaris announced that an international congress on the green economy in South East Europe will be held in Athens on October 20, 2011. The forum will be opened by the President of the Bank Philip Meystard and the Greek Prime Minister George Papandreou will also speak. At the same time, the European Investment Bank collection of works of modern art will be presented at the Byzantine Museum in Athens.

Plutarchos Sakellaris announced that the Bank will continue to invest in large infrastructure projects like the airport in Iraklion, the island of Crete, the construction of the underground in Thessaloniki, the continuation of the Attiki Odos highway, it will fund the construction of the power plant on the island of Rhodes and the underwater connection of the Cyclades Islands grid with the rest of Greece, it will also invest in the renewable energy park near Kozani in northern Greece.

Greece will receive 258 billion euros by 2013 under the European Programme Jessica for urban projects. Under the Jeremie Programme the amount will be 400 million euros for small and medium enterprises.

Plutarchos Sakellaris announced that the European Investment Bank is willing to invest 6 billion euros in the economic stabilization of the countries of North Africa for a period of three years. The start of the investment will follow the decision of the European Parliament and infrastructure and energy will be the areas of priority. He also said that the Bank will go guarantee the issuance of bonds to fund the Europe 2020 strategy which aims at reducing greenhouse gas emissions and promoting  green energy in the European Union. The bonds will be issued by private companies implementing environmental projects.


Tags: European Investment BankGreecePlutarchos SakellarisGreen economy
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