EIB Group backing €1.9 billion COVID response and climate action investment in Greece
23 June 2021
EIB President Werner Hoyer, Vice-President Christian Kettel Thomsen, and EIF Chief Executive Alain Godard are visiting Athens this week to meet Prime Minister Kyriakos Mitsotakis, Finance Minister Christos Staikouras, Hellenic Development Bank Chief Executive Athina Chatzipetrou and government ministers, and to highlight the impact of new EIB Group engagement in the country.
The first high-level EIB Group visit to Greece since March 2020 provides an opportunity to demonstrate the Group’s engagement with key public and private partners in Greece for the twin challenges of COVID-19 and climate action.
The EIB has financed investment across Greece since 1963 and last year the EIB Group provided a record €2.8 billion for new public and private investment across the country. This is enabling thousands of companies to harness new opportunities and backing small-scale projects that deliver safer roads, better schools and protection from floods.
By 2050, the European Union is meant to achieve climate neutrality, or net zero greenhouse gas emissions. Clean hydrogen can be a key factor in reducing emissions in the transport sector and in industry, becoming a green energy source for these difficult areas of the economy. According to forecasts, hydrogen technologies will be viable within 5 to 10 years. An advisory agreement signed between the European Investment Bank (EIB) and the Polish Cluster of Hydrogen Technologies will support the roll-out of clean hydrogen technologies in the country.
The heaviest rainfall in a hundred years has caused devastating floods in Luxembourg, our host country, Germany, Belgium and the Netherlands. The number of casualties is still uncertain but it is clear that many dozens of people have died, many more are missing, and that tens of thousands of people have had their homes and businesses destroyed. At the EIB, our thoughts go to the victims of this catastrophe.