Brussels, 11/12/2012 (Agence Europe) - On 7 December, the European Investment Bank decided to lend Greece €370 million for climate action and the knowledge economy in Greece via small businesses and medium-sized companies.
A loan of €130 million will go to the Greek Public Power Corporation (PPC) for promoting energy security and efficiency in Greece. The EIB funds are destined for the new Megalopolis natural gas-fired, combined cycle power plant in the central Peloponnese. The investment will add state-of-the-art, environment-friendly energy production in the country. This is a follow up loan for the Megalopolis power plant, bringing total EIB finance for this investment to date to €280 million.
A loan of €100 million is going to the School Building Organisation (SBO) in support of school facilities throughout Greece. This is the second and last part of a total €200 million facility. The first €100 million was signed in October 2010. The loan aims at upgrading schooling facilities throughout Greece over the next three years. It concerns the construction and renovation of 84 schools and 31 multi-purpose school halls, as well as equipment for some 14,000 public schools. Increasing physical capacity and improving the quality of the school estate are key aims of the Greek education policy.
A loan of €140 million has been signed with Alpha Bank S.A in favour of small and medium sized enterprises (SMEs) and mid-sized companies (mid-caps) in Greece. SMEs and mid-cap businesses play a key role in the Greek economy. The EIB loan in tandem with Alpha Bank will support investments in tangible assets, as well as working capital. Investment will be for new projects or the modernisation and expansion of existing businesses, mainly in the fields of manufacturing, services and tourism, as well as in small to medium infrastructure projects. SMEs and mid-caps can benefit from this operation for projects below €25 million. (OL/transl.fl)