Photo credit: YNANP

European Investment Bank lends money to support Greek ports though a loan agreement of 200 million euros signed earlier in March between the Ministry of Maritime Affairs and Insular Policy and the European Investment Bank (EIB).

The cooperation agreement was signed between the two parties on the basis of which the bank assumes an advisory role in the implementation of the National Strategy for the Integrated Maritime Policy in the Island Area.

The cooperation concerns the financing of public works of the “Nearchos” program through the conclusion of a loan agreement of 200 million euros for the implementation of projects and infrastructure in the field of decarbonization of island ports, port infrastructure, desalination units and facilities, drinking water management networks, building infrastructure under the responsibility of Ministry of Shipping and Island Policy in the island area from the Deposit and Loan Fund.

The European Investment Bank Group will cooperate with the Greek state also for the technical support for the creation of a complete digitised and simplified process of preparation, submission, management of applications for funding by beneficiary bodies.

In the terms of the agreement it is included the preparation and submission, by the General Secretariat of the Aegean and Island Policy to the European Investment Bank of a file, for the creation of a permanent mechanism for the maturation of energy saving projects.

The European Bank will help facilitate crucial investments to boost energy efficiency and renewable energy investments on the country’s smaller and remote islands in various across the country. “Regions from the Ionian Sea, North Aegean and South Aegean, to Crete will benefit from the agreement,” in accordance with the EIB Group statement.

Photo credit: YNANP

The cooperation agreement was signed between the Minister of Maritime Affairs and Insular Policy Giannis Plakiotakis and Hristo Stoykov – Director of Advisory Services of the European Investment Bank, as well as Giannis Kaltsas, Head of Investment Team Greece & Cyprus.

Present at the meeting were the Secretary General of the Aegean and Island Policy and coordinator of the relevant initiatives Manolis Koutoulakis, Alexandros Sakharov – Senior Advisor of the Invest EU Advisory Hub department and Yiannis Bouzopoulos – Financial Instruments Adviser, of the European Investment Bank.