- Green Investment Boost: The European Investment Bank (EIB) has allocated €1 billion in green financing to Greek SMEs and mid-caps, targeting renewable energy, energy efficiency, and other climate-focused projects.
- NBG Partnership: The National Bank of Greece (NBG) received €250 million in new funding, bringing its total participation to €800 million under the EIB programme.
- Economic and Environmental Growth: Over 350 Greek businesses have benefited from preferential loans, with total green financing in Greece expected to reach €2 billion.
The European Investment Bank (EIB) has reached a significant milestone, delivering €1 billion in green financing for Greek small and medium-sized enterprises (SMEs) and mid-caps. This funding supports renewable energy, energy efficiency, and other environmentally sustainable projects.
The latest agreement adds €250 million to the partnership between the EIB and the National Bank of Greece (NBG), enabling hundreds of Greek businesses to access loans on favorable terms. “Reaching this €1 billion milestone highlights the EIB’s unwavering support for Greece’s green transition and our commitment to foster sustainable economic growth,” said Yannis Tsakiris, EIB Vice-President.
A Growing Commitment to Sustainability
The EIB launched this green financing programme in 2020, focusing on decarbonization and climate action. Open to all eligible banks in Greece, the programme has seen significant participation from NBG and Piraeus Bank. NBG has absorbed 80% of the total funding, equating to €800 million, reflecting its leadership in advancing Greece’s green projects.
Related Article: €400M EIB Backing Fuels MYTILINEOS’ Energy Transition
Pavlos Mylonas, CEO of NBG, emphasized the bank’s dedication to sustainability: “NBG has absorbed 80% of the €1 billion total program financing, illustrating our ongoing commitment to support Greek SMEs and mid-caps while allowing us to further grow our green projects’ portfolio.“
Supporting Green Growth
The programme aims to:
- Support businesses linked to climate action and sustainability.
- Enable investments in renewable energy and energy efficiency.
- Promote gender equality and youth employment.
More than 350 Greek businesses have already benefited, with total financing mobilized for green projects expected to reach €2 billion, as EIB recipient banks are required to match the funding.
Long-Term Partnership
The EIB-NBG collaboration has delivered over €2 billion in financing over the last five years, mobilizing an additional €3.8 billion for SMEs and mid-caps. This partnership continues to drive sustainable growth while strengthening Greece’s economic resilience and environmental commitments.
Follow ESG News on LinkedIn
