EIB and Greece to Launch €650m Green Infrastructure

Sourced from Global Construction Review

The European Investment Bank (EIB) has partnered with the National Bank of Greece to launch a €650m green infrastructure initiative.

As part of the EIB’s “Infrastructure Fund of Funds”, the following will be awarded funding:

  • Wind and photovoltaic parks

  • Biomass and biogas plants

  • Energy-efficient buildings

  • Urban schemes to rehabilitate deprived districts

  • Water and waste management

  • Tourism

The National Bank of Greece is to be the first partner for the scheme, and will help mobilise private funding. Other leading Greek banks are expected to joint the fund.

Andrew McDowell, the EIB’s vice president, said: “Local investment is essential to harness renewable energy, cut energy use and improve urban areas and unlock projects that have been delayed in recent years.

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