EIB plans to invest 7 billion euros in Greece

Screen Shot 2017 09 19 at 11.11.53 am

Screen Shot 2017 09 19 at 11.11.53 am

According to Greek media reports, the European Investment Bank (EIB) plans to invest around 7 billion euros in Greece in the 2018-2020 period with the possibility of the investment amount doubling or tripling.

The reports follow recent comments by Nicholas Jennett, EIB’s deputy managing director and head of the investment group for Greece who said last week that "Greece is one of the top countries which has benefited so far from a Juncker Plan, with projects approved worth 1.2 billion euros, leading to investments of 3.7 billion euros through private leverage".

This positive climate is expected to be confirmed during the inauguration of EIB's new offices in Athens, September 29, by the bank's head Werner Hoyer.

Greece signed funding agreements worth 1.516 billion euros as part of the so-called Juncker Plan in 2016 and disbursements totalled 1.420 billion euros. For 2017, agreements and disbursements are expected to exceed 2.0 billion euros putting Greece at the sixth place of absorption rates after Italy, France, Spain, Germany and the UK.

Greece's Economy and Development Ministry and the regional authority of Crete are organising a development forum in Heraklio, Crete, September 20-21. Prime Minister Alexis Tsipras will address the forum with a speech on Thursday, 21 September.

GCT Team

This article was researched and written by a GCT team member.