BAKU, Azerbaijan, February 20. The European Investment Bank (EIB) Group provided 2.2 billion euros in new financing for Greece in 2024, supporting energy security, business growth, and disaster resilience, Trend reports.
The funding included 2.03 billion euros from the EIB and 152 million euros in portfolio guarantees from the European Investment Fund (EIF), which focuses on innovative small and medium-sized enterprises (SMEs).
Key projects included a 390 million euro loan to DEPA Commercial for solar park development, 150 million euros to HEDNO for electricity grid upgrades, and 550 million euros in loans and guarantees to domestic banks for SME financing. Additionally, 220 million euros was allocated to the Greek government for disaster management initiatives.
Finance Minister Kostis Hatzidakis emphasized Greece’s strong partnership with the EIB, highlighting investments in renewable energy, infrastructure, and emergency response. EIB Vice-President Yannis Tsakiris underscored the bank’s commitment to clean energy, climate resilience, and job creation.
Over the past five years, EIB Group financing in Greece has reached 14.5 billion euros, with last year’s funding representing nearly 1% of the country’s GDP. The investments are expected to generate up to 6.6 billion euros in economic activity, reinforcing Greece’s position as one of the top beneficiaries of EIB support in the EU.