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”.
Annual financing provided by the European Investment Bank Group and the amount approved for future investment plans reached record levels in Greece last year. In 2020 EUR 2.8 billion of new support for high-impact private and public investment across the country was agreed between the European Investment Bank and European Investment Fund and Greek partners and a further EUR 4.3 billion approved by the EIB for future investment.
Christos Staikouras, Greek Finance Minister and Governor of the European Investment Bank today visited the Luxembourg headquarters of the EIB to explore new opportunities to further strengthen the impact of European Investment Bank engagement in Greece and financing to support recovery from COVID-19 and accelerate climate action across the country.
Priority investment in high-impact small scale projects across Greece will be accelerated following agreements signed by the Minister of Finance of the Hellenic Republic and Governor of the European Investment Bank, Christos Staikouras, Deputy Minister of Development and Investments of the Hellenic Republic, Yannis Tsakiris, European Investment Bank President, Werner Hoyer and EIB Vice President responsible for Greece, Christian Kettel Thomsen.