- Total financing under the European Fund for Strategic Investments (EFSI) in Greece amounts to €2.7 billion and is set to trigger €11 billion in additional investments
Infrastructure and innovation projects
- 20 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €2.3 billion in total financing
- set to trigger €7.3 billion in total investment
Small and medium enterprises (SMEs)
- 13 approved agreements with intermediary banks financed by European Investment Fund (EIF) with EFSI backing
- €406 million in total financing
- set to trigger approximately €3.7 billion in investments with some 21,818 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of EFSI-backed projects in Greece
The EIB is providing Terna Energy Group with a €24 million loan to build three new wind farms in Viotia in central Greece. This project is good for the EU's low-carbon strategy, and it will sustain dozens of jobs in Greece.
The EIB is lending Greek telecoms operator Cosmote €150 million to roll out high speed broadband across Greece. The financing will significantly increase the network's performance in terms of speed, capacity and coverage and improve the network's performance in more rural and remote areas of the country.
- EFSI-backed financing: €15 million
- set to trigger total investment: €31 million
The EIB is providing agri-food company Creta Farms a €15 million loan to develop new product lines and expand its business abroad. The biggest cold-cuts company in Greece, Creta Farms spends five times as much as its peers on innovative ways to produce healthier meats. It removes saturated animal fats from its meats and injects extra virgin olive oil into them. The company took on 100 extra staff thanks to the new finance.
Mani Foods produces, packages and exports kalimata olives, winning awards for its extra virgin olive oil. To keep up with rising demand, Mani Foods needed to invest in new machinery. The company secured a loan from the National Bank of Greece that is guaranteed by the EIF under the Investment Plan. With this financing Mani Foods has expanded its factory for new business, developed new product lines and doubled its staff.