Release date: 29 October 2021
Promoter – Financial IntermediaryHELLENIC REPUBLIC
The framework loan represents a subset of projects listed in the so-called Digital Transformation Bible (DTB), which is the guideline for the implementation of the Greek state's digital transformation strategy. The projects will lead to new as well as enhanced administrative mechanisms for the benefit of the Greek citizens and economy across the entire country.
Additionality and Impact
The project will support the Greek government in implementing the new digital strategy for the reorganization and digital transformation of the Greek public sector under the Ministry of Digital Governance. The overall cost of the proposed investments amounts to c. EUR 250m and the EIB loan is expected to cover up to 50% of the total project cost, with the remaining amount to be co-financed by ESIF and the Greek state budget.
The project is eligible for EIB financing under Innovation, Digital and Human Capital - RDI. The project is a selection of schemes of the new Digital Transformation Bible 2020-2025 of Greece that incorporates the principles and actions provided by the European digital strategies and is linked to the EU's Digital Economy and Society Index (DESI). The project is thus in line with Europe's digital strategies and the objective of the Digital Compass concerning the digitalization of public services. Overall, Greece ranks low among the international indicators assessing the digital maturity of countries around the world. The project is expected to generate positive externalities through the provision of digital public services that benefit society and the broader economy. It supports digital transformation activities, which generate positive knowledge and technology externalities, through the creation of innovative processes, products or services and through skills development and upgrading.
The EIB's financial contribution is considered valuable to the Greek government, as the Bank is offering more favorable than market alternatives under various dimensions (longer tenor, availability and grace period, etc.), while the long-term EIB funding complements and allows the Greek government to diversify its funding sources for the project.
The project aims to support a list of digital governance investments that touch upon a number of critical sectors which were slowed down or hampered in previous years for various reasons. The proposed investments include a number of projects that are considered valuable for the continuation and upgrade of the existing digital infrastructure. All projects are considered crucial for Greece's digital transformation and are aligned with the principles of the country's digital strategy, which are depicted in the Digital Transformation Bible, launched in December 2020.
- Telecom - Information and communication
- Services - Public administration and defence; compulsory social security
Proposed EIB finance (Approximate amount)
EUR 125 million
Total cost (Approximate amount)
EUR 250 million
In general the information and communication technologies (ICT) sector is not directly covered by Annexes I or II of the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The schemes within the framework will mostly relate to software-based solutions that will not represent a significant negative residual impact on the environment. As the project pipeline is still to be fully defined, the environmental details will be assessed during the appraisal.
The Bank will require the Promoter to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation as and where required.
Signed - 22/12/2021
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).