EIB Management Committee committed to supporting Greece and visits Athens Metro.

Statement of Werner Hoyer, President of the European Investment Bank, on the occasion of his meeting with the Minister of Development and Competitiveness, Kostis Hatzidakis in Athens

On 11-13 November, the Management Committee (*) of the European Investment Bank (EIB) met in Athens, in view of the EU Presidency to be undertaken by Greece on 1 January 2014.

On this occasion, the EIB's delegation, headed by President Werner Hoyer, had a series of contacts with the Greek Government. 

Further to the meeting with the Minister of Development and Competitiveness, Kostis Hatzidakis, in Athens, EIB President Werner Hoyer stated:

‘In the nearly two years since I took over the presidency of the European Investment bank, I am visiting Greece for the sixth time. If I compare the current situation in Greece with that of two years ago, and also the situation encountered during my many previous visits in my old capacity within Foreign Affairs, I must say that we have moved a tremendous way forward and I congratulate our Greek friends on this progress. This is a fantastic opportunity to take account of what has happened since.

The Bank has played its role, in my view, very constructively. We have moved the business volume in Greece, by extending our lending volume in Greece from EUR 550 million in 2012 to nearly three times that amount, EUR 1.5 billion, for this year. We are very proud because we do not provide grants but loans for viable investments. We are doing good, solid business. Our activity has substance, gives concrete results in the real economy and translates into jobs and innovation’.

During these days in Athens, the EIB signed new loans totalling EUR 550 million for motorways, local authorities’ infrastructures and SMEs. The EIB also discussed further future support in Greece mainly for SMEs, including the Institute for Growth, as well as energy and transport –motorways and metro.  

In this context, the Management Committee and EIB delegation visited the recently inaugurated Elliniko Metro station, which forms part of the latest extension of Athens metro financed by the EIB. To be noted that total financing extended by the EIB for Attiko Metro investments in Athens and Thessaloniki sums up to about EUR 3 billion since 1992 for the start of the works.

(*)The Management Committee is the Bank’s permanent collegiate executive body. It has nine members. Under the authority of the President and the supervision of the Board of Directors, it oversees the day-to-day running of the EIB, prepares decisions for Directors and ensures that these are implemented. The President chairs the meetings of the Management Committee. The members of the Management Committee are responsible solely to the Bank; they are appointed by the Board of Governors, on a proposal from the Board of Directors, for a renewable period of six years.

Statement of EIB President Werner Hoyer