EIB President Werner Hoyer met Greek Finance Minister Christos Staikouras in Luxembourg today, to discuss strategic investment in Greece in the coming years.
Minister Staikouras highlighted the EIB’s role in Greece and discussed the EIB's contribution to the stability and further development of the Greek economy.
Following the ECOFIN meeting in Luxembourg today, Greek Minister of Finance Christos Staikouras paid an official visit to the European Investment Bank (EIB) for discussions with President Werner Hoyer. On the agenda were the EIB's contribution to the stability and further development of the Greek economy and the further deepening of the cooperation between the Bank and one of its shareholders.
Both parties highlighted the EIB’s support for Greece’s public and private sector in recent years, not only through direct lending activities, but also through the provision of technical assistance. Looking ahead, talks focused on novel ways of EIB support for Greek sectors and businesses, reducing the cost of debt, and supporting the local banking system. Discussions also touched upon plans to double EIB support for climate investment and the recently agreed financing to improve flood protection in Greece.
After the meeting, EIB President Hoyer commented: “We are delighted to work with the Greek government to support sustainable investments that deliver growth and jobs. Greece has been – and remains – a priority not only for the Bank in general, but for investments supported under the Juncker Plan as well, and we are glad to reaffirm our commitment for the road ahead.”
Greece’s Minister of Finance Christos Staikouras added: “The main objective for the Greek government is to foster economic growth and job creation. We have already delivered over the last 3 months. In recent challenging times, it has indeed been proved that the EIB has been a resolute friend of Greece, supporting crucial new investment in energy, transport infrastructure, education, health, R&D, urban development, as well as funding Greek SMEs and mid-caps, in cooperation with the Greek banking system. It is a top priority for the Greek government, as well as for EIB, to work together to increase private and public investment, with a view to covering lost ground since 2009. The EIB’s contribution in covering the investment gap in Greece is more than welcome”.
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D. the Minister for Finance, Paschal Donohoe T.D and the Minister for Agriculture, Food and the Marine, Dara Calleary T.D. today (Thursday the 30th of July) launched a €500 million expansion to the Future Growth Loan, the government’s scheme to support SMEs, farmers and fishing. The additional funding will be provided by the EIB Group.
Pursuant to Article 27 of the Bank’s Rules of Procedure, Ms Beatrice DEVILLON-COHEN (former Managing Director – Head of Derivatives Trading, Société Générale, London) was proposed as a candidate to perform the duties of an observer to the Audit Committee.
By letter dated 11 June 2020, Mr Audrius LINARTAS (Executive Director at the Authority of Audit, Accounting, Property Valuation and Insolvency Management under the Ministry of Finance, Lithuania) was nominated by the Republic of Lithuania, by common accord with the constituency of the Republic of Estonia, the Republic of Latvia, the Republic of Austria, the Republic of Finland and the Kingdom of Sweden for appointment as a member of the Audit Committee of the European Investment Bank.