The InvestEU programme in Greece was officially launched by the EIB Group and the European Commission. A programme that will encourage investment in the whole of the EU. 372 billion. euro in the Old Continent. Investments under InvestEU will focus on four policy areas:

• sustainable infrastructure
• research
• innovation and digital transformation
• SMEs, social investment and skills

At least 30% of the funding is specifically earmarked forclimate change mitigation.

It was announced that the European Commission and the EIB also signed the agreement on the InvestEU advisory hub, paving the way for new investments and related advisory assistance. It thus provides support for Europe' s post-pandemic recovery, as well as for the green and digital transition.

The EIB's support for Greece is now long-standing

Last year saw the EIB Group's largest ever activity in Greece. The EIB and the EIF provided new financing of around €5 billion. to help Greek businesses cope with the challenges of pandemic COVID-19, accelerate the energy transition and support investment in Greek SMEs, road safety, school improvement, digital transformation and flood protection projects.

The first projects in 2023

The EIB Group will execute 75 % of the guarantee from the EU budget (EUR 19.65 billion). The same share will execute and from the budget provided for under the InvestEU advisory hub. Apart from the EIB and the EIF, which are the main implementing partners, international financial institutions with an active presence in Europe, but also national development banks will are able to use part of the guarantee (25 % in total) to support investment projects and projects. The first InvestEU projects in Greece are expected to start in 2023.

The event in Athens, which took place at the Armed Forces Officers' Club. It started with the greetings of the Vice-President of the European Commission Margaritis Schinas, the Greek Finance Minister and EIB Governor Christos Staikouras and the EIB Vice-President Christian Kettel Thomsen, while the Deputy Minister of Research & Development, Mr. Technology Christos Dimas, Minister of Development and Investment Adonis Georgiadis and Deputy Minister of Development and Investment Ioannis Tsakiris. The event was attended by customers, stakeholders and media representatives.

Margaritis Schinas, Vice-President of the European Commission

"InvestEU is an innovative new EU financial instrument. It will unlock important new funding estimated at 370 billion. euros for investment that will help Europe face its biggest challenges. From promoting environmental and climate sustainability, to encouraging research, innovation and digitisation, from supporting small and medium sized enterprises to strengthening social infrastructure and skills, InvestEU will offer tailor-made solutions for both large existing companies and innovative newcomers. With the support and experience of our long-standing partner at the European Investment Bank, I am confident thatInvestEU will be an important catalyst for substantial and significant investment in Greece in the coming years."

Christos Staikouras, Minister of Finance and Governor of the EIB

"By presenting the InvestEU programme in Athens today, the EIB Group and the European Commission are sending a strong signal of support for investment in the European Union, including, of course, Greece, and in particular for investment focused on four critical sectors. These areas are at the heart of our agenda. They are sustainable infrastructure, research-innovation-digitalisation, SMEs, and social investment and skills.

With European guarantees totalling 26.2 billion. and aiming to mobilise over € 372 billion of investment. euros -half of the total resources of the Recovery Fund- across Europe, InvestEU can act as a catalyst for achieving sustainable and inclusive growth, job creation and high-impact investment in our countries in a period of multiple exogenous crises. Considering that, thanks to the Investment Group for Greece, our country has been one of the biggest beneficiaries of EIB resources in recent years, I am confident that Greece will emerge as a champion in using the InvestEU programme in a similar way."

Christian Kettel Thomsen, EIB Vice-President

"InvestEU, the new EU programme for investment financing in the European Union, is a key mechanism for financing high-risk projects. A mechanism that will help the European economy to become greener and more digital. Today's event gives us the opportunity to present the EIB Group's financing and advisory products to our Greek clients and partners and the opportunities they can create for the local economy. H promotion of circular economy in countries such as Greece and the investing in SMEs in key areas such as sustainability, innovation and culture are all strategic priorities of the InvestEU programme to relaunch the European economy, which has been hit hard, first by the pandemic and now by the war in Ukraine."