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    € 180,000,000
    Greece : € 180,000,000
    Services : € 180,000,000
    Signature date(s)
    15/07/2016 : € 180,000,000

    Summary sheet

    Release date
    21 April 2016
    Signed | 15/07/2016
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 180 million
    EUR 240 million

    The project concerns the Hellenic Foundation for Research and Innovation (HFRI). It finances both the establishment and initial operations of the Foundation. The main purpose of the Foundation is to procure and fund research projects, academic positions, the science and society programme, and scientific equipment in support of the national strategy for research and innovation, which in turn is aligned with the national growth strategy.

    The project (i) supports the fundamental research activities of Greek universities and public research centres and (ii) assists the country in implementing the science and innovation policy determined as part of the national growth strategy.

    Environmental aspects

    The project concerns intangible research activities carried out in existing facilities, using installations already authorised for this purpose, and which are not expected to materially change current research and development (R&D) practices in Greece. Such activities create intangible assets (new knowledge and scientific discoveries), which do not fall under the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU.

    The project may also include research activities involving potential environmental issues such as the handling of toxic substances and research activities on live animals for scientific purposes. The Bank will verify the promoter's standards and principles in this respect, in particular compliance with the relevant EU directives (Seveso Directive and Directive 2010/63/EU for the protection of animals).

    The Bank will require the promoter to ensure that contracts for the implementation of the project, such as for the purchase of scientific equipment, are tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC, or 2014/24/EU where applicable, and/or 2004/17/EC, or 2014/25/EU where applicable, and/or 2014/23/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.


    Targeting sector: professional, scientific and technical activities / scientific research and development


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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