ATHENS, Nov 25 (NNN-AMNA) – A 26.2-billion euro (27.26-billion dollar) investment tool, has been adopted by the European Commission (EC), the European Investment Bank (EIB), and the European Investment Fund (EIF) this week.
The InvestEU programme was signed in Athens yesterday.
“InvestEU is one of the main tools we have in Europe, to stimulate investment, but not simply investments to disperse money to the market, but investments focused on specific priorities that also define the new development model of the European Union,” European Commission Vice-President, Margaritis Schinas, said in Athens.
The programme aims to unlock investments of over 372 billion euros across Europe, to support the EU’s strategic priorities. These include the European Green Deal and the digital transition.
Within the context of the InvestEU launch, EIB Vice-President, Christian Kettel Thomsen, co-signed with the Greek government, an agreement for the provision of 119 million euros, in the form of a 25-year loan, for the expansion and modernisation of six research centres in Greece.
In addition, a new contractual framework was signed for the EIF, to manage a further 400 million euros of financial support, from Recovery and Resilience Facility (RRF) investments in Greece, to help small- to medium-sized businesses in the country.
The first InvestEU projects in Greece are expected to roll out in 2023. (1 euro= 1.04 U.S. dollars)– NNN-AMNA