Brussels, 13/02/2012 (Agence Europe) - On Thursday 9 February, the European Investment Bank (EIB) signed three agreements totalling €158 million for the establishment of Urban Development Funds (UDF) with EFG Eurobank Ergasias, the Investment Bank of Greece (IBG), and Piraeus Bank. These funds will be invested in urban projects in a number of regions in Greece. The EIB acted in its capacity as the manager of the JESSICA Holding Fund for Greece.
Aiming to create more competitive, socially inclusive and sustainable urban areas in Greece, the three UDFs will invest the above sum over the next four years. Their investment portfolio may include urban projects such as: rehabilitation of deprived urban areas, basic infrastructure works, development of high-technology clusters and added value infrastructure, water and waste management, energy networks, and energy efficiency.
The above sum will be invested in the following regions: - EFG Eurobank Ergasias will invest approximately €68 million in urban projects located in the regions of mainland Greece (€40 million) and the Peloponnese (€28 million); - Investment Bank of Greece will invest approximately €50 million in urban projects located in the regions of Eastern Macedonia and Thrace (€10 million), North Aegean (€10 million), Western Macedonia (€15 million) and Epirus (€15 million); - and Piraeus Bank will invest approximately €40 million in urban projects located in the regions of Central Macedonia (€20 million) and Thessaly (€20 million). (OL/transl.jl)