The total funding of her group reached 2.2 billion euros. European Investment Bank to Greece, signed in 2022, while financial support for environmentally friendly projects set a record.

According to the EIB, the public and private sectors have turned to the bank to support long-term investments in renewable energy, clean transport and energy security and efficiency projects. Overall, climate action and environmental sustainability accounted for 65% of the EIB Group’s financial activities in Greece in 2022, equivalent to €1.4 billion. Another two important activities of the EIB Group last year were funding for research and innovation, as well as funding for small and medium-sized businesses.

Among other things, during 2022 the EU bank has approved an unprecedented funding of 580 million euros for the expansion of the Athens Metro. Also among the flagship energy projects is an agreement to allocate 28.5 billion euros to finance the renewable energy division of the Public Electricity Company (PPC) group. EIB funding could rise to €35 million in the coming months and will help support the construction of three new 230 MW solar parks in Kozani, West Macedonia region, supported by the Just Transition Mechanism.

The EIB also has €157 million, which, combined with €108 million from the Recovery and Resilience Facility (RMF), will be used for a flagship project to connect the Cyclades to the mainland’s power grid. The loan with the Independent Electricity Transmission Operator (IEO) of Greece was agreed in principle at the end of 2022 and announced at the beginning of 2023.

In research and innovation, a 25-year €119 million loan will help the country’s six largest research centers modernize and expand its strategic research and development (R&D) infrastructure in Greece.