Greece

The European Investment Bank (EIB) will advise Greece on its planned major upgrade of the national railway network to improve safety, punctuality, and sustainability. Under the agreement with the Greek Ministry of Transport and Infrastructure, the EIB  will assist authorities in developing a long-term  business plan for a newly established rail infrastructure management company and in outlining near-term network investments.

The EIB and Greece’s four systemic banks have agreed a new collaboration in the form of a €700m guarantee programme to support mid-caps in Greece. More specifically, the EIB has committed to cover on a loan-by-loan basis 50% of any losses that may incur in portfolios of €1.4 billion worth of new financing to be granted by the four participating banks, Alpha Bank, National Bank of Greece, Eurobank and Piraeus.

The European Investment Bank (EIB) is lending Greek energy company DEPA Commercial SA a total of €390 million to build and operate solar-energy farms across the country. The EIB funding covers 75% of total cost of the new photovoltaic (PV) sites, which is expected to reach up to €521 million.