European Investment Bank Approves Green Initiatives in Greece
Key Ideas
  • The European Investment Bank approved four investment proposals by Greece's Environment and Energy Ministry, totaling 208 million euros, to support green initiatives.
  • The investments include new electric buses and hydrogen buses, heat pumps for greenhouses, and municipal swimming pools, aiming to improve public transportation and energy efficiency.
  • The funds will be disbursed following a voting process at the biannual conference of the Modernization Fund, supporting Greece's energy actions with approximately €1.3-1.5 billion by 2030.
  • These initiatives are part of an EU program to enhance environmental sustainability and boost the primary sector's productivity through modernization and green technologies.
The European Investment Bank has given its approval to four investment proposals put forth by Greece's Environment and Energy Ministry. The total investment sums up to 208 million euros and has been labeled as "priority investments." These investments cover a range of green initiatives, including the introduction of new electric buses and hydrogen buses, installation of heat pumps in greenhouses, and heat pump systems for municipal swimming pools. The primary goal of these investments is to enhance the public transportation system by replacing 150 old and polluting buses, thereby improving the daily lives of citizens. The heat pump proposals are aimed at supporting plans that will enhance the productivity process in the primary sector. The disbursement of these funds is scheduled to be decided on April 1 during the biannual conference of the Modernization Fund, which operates within the scope of an EU program supporting 13 member-states. Greece, represented by the Environment and Energy Ministry, anticipates receiving support for its energy initiatives amounting to approximately €1.3-1.5 billion by the year 2030. These initiatives underline a commitment to environmental sustainability and modernization, aligning with the EU's objectives of promoting green technologies and energy efficiency.
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