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Add to Preferred SourcesDuring a visit to Athens Andrew McDowell, European Investment Bank Vice President, discussed strengthened EIB support to help Greece cope with migrants and refugees with Prime Minister Mitsotakis and Migration Minister Mitarachi.
Two EIB initiatives were discussed with the Prime Minister. They include immediate use of €200 million of EIB financing, already approved for infrastructure investment in combination with EU structural funds, to support priority investment in public services in districts hosting migrants and refugees and expansion of the EIB’s Economic Resilience Initiative to Greece and other EU member states most impacted by hosting large numbers of migrants and refugees.
“As the EU Bank, the European Investment Bank is standing by Greece at a time of need. Ensuring increased provision of basic services and long-term investment is essential. The new initiatives outlined today build on the EIB’s strong track record of engagement in Greece and the Economic Resilience Initiative outside the EU in recent years. My colleagues and I look forward to redoubling our efforts over the coming weeks and months to enable Europe to contribute to priority investment here in Greece.” said Andrew McDowell, European Investment Bank Vice President.
The EIB is expected to provide €200 million of dedicated financing to support short-term priority infrastructure for both refugees and host communities. Longer-term investment will support economic resilience through education, vocational training and skills programs.
The EIB is currently examining how to expand the Economic Resilience Initiative to support priority investment in Greece and other EU countries that host migrants and refugees.
This would enable the EIB to significantly increase financing and technical assistance for public sector infrastructure and private sector activity in Greece over the next two years.
The EIB financing is expected to be used alongside European Union budget funds to maximise the scale and scope of new investment and would complement recently announced efforts by the European Commission.
Original source: EIB
Published on 06 March 2020