Συνάντηση Κ. Μητσοτάκη με τον πρόεδρο της Ευρωπαϊκής Τράπεζας Επενδύσεων, Werner Hoyer
Ο πρωθυπουργός Κυριάκος Μητσοτάκης συναντήθηκε σήμερα Τρίτη (7.11) στο Μέγαρο Μαξίμου με τον πρόεδρο της ευρωπαϊκής τράπεζας επενδύσεων, Werner Hoyer. Κατά τη διάρκεια της συνάντησης συζητήθηκαν οι δυνατότητες περαιτέρω διεύρυνσης της σημαντικής, μακροχρόνιας συνεργασίας της Ελλάδας με την ΕΤΕπ, η θετική πορεία της ελληνικής οικονομίας και οι προοπτικές της, καθώς και η ανάγκη αντιμετώπισης των συνεπειών της κλιματικής κρίσης, τόσο σε επίπεδο πρόληψης όσο και σε επίπεδο προσαρμογής.
«Χαίρομαι που σας καλωσορίζω ξανά στην Αθήνα. Έχουν επιτευχθεί πολλά από την τελευταία σας επίσκεψη. Όπως γνωρίζετε, ανακτήσαμε εν τέλει την επενδυτική βαθμίδα, γεγονός που μας έχει κάνει όλους πολύ χαρούμενους. Πιστεύω ότι είναι ένα σημαντικό ορόσημο», δήλωσε ο πρωθυπουργός υποδεχόμενος τον κ. Hoyer στο Μέγαρο Μαξίμου.
«Θα ήθελα να σας ευχαριστήσω και πάλι για το εξαιρετικό επίπεδο συνεργασίας μεταξύ της Ελλάδας και της Τράπεζας. Νομίζω ότι η συμφωνία που υπογράφουμε σήμερα για τη χρηματοδότηση έξυπνων μετρητών αποτελεί μία πολύ καλή ένδειξη για το πού θέλουμε να κινηθούμε στο μέλλον όσον αφορά στις πολιτικές μας για την κλιματική αλλαγή και τη διασφάλιση ότι τα συστήματα ηλεκτροδότησης είναι όσο το δυνατόν πιο αποδοτικά. Τα νοικοκυριά θα έχουν πολύ καλύτερο έλεγχο των λογαριασμών τους και θα είναι σε θέση να εξοικονομούν χρήματα, αυτό είναι το νόημα του έξυπνου μετρητή. Θα έχουν την ιδιοκτησία της κατανάλωσης που θα κάνουν, με έναν πολύ πιο διαφανή τρόπο», είπε ο Κυριάκος Μητσοτάκης.
«Είχαμε μια πολύ παραγωγική συζήτηση με τον πρωθυπουργό Κυριάκο Μητσοτάκη. Συζητήσαμε, μεταξύ άλλων, τις καταστροφικές πλημμύρες και πυρκαγιές του περασμένου καλοκαιριού. Οι τραγωδίες αυτές είναι μια ζοφερή υπενθύμιση των κινδύνων της κλιματικής αλλαγής. Ονομάζονται φυσικές καταστροφές, είναι αφύσικες καταστροφές, ακραία φαινόμενα που είναι αποτέλεσμα της αποτυχίας μας σε παγκόσμιο επίπεδο να προστατεύσουμε τον πλανήτη μας, επί μεγάλο χρονικό διάστημα», τόνισε ο κ. Hoyer.
«Ίσως ο πιο σημαντικός τομέας από όλους όσον αφορά στην άμβλυνση των επιπτώσεων της κλιματικής αλλαγής είναι τα ενεργειακά δίκτυα. Η αναβάθμιση των δικτύων ηλεκτρικής ενέργειας είναι απολύτως απαραίτητη για να καταστεί δυνατή η εγκατάσταση νέων και περισσότερων ανανεώσιμων πηγών ενέργειας, απολύτως απαραίτητη για την αύξηση της αποδοτικότητας, απολύτως αναγκαία και ζωτικής σημασίας για τη μείωση των λογαριασμών ενέργειας για τους πολίτες μας. Η σύμβαση που υπογράψαμε σήμερα με τον διαχειριστή δικτύου διανομής της Ελλάδας αναδεικνύει την εστίαση της ΕΤΕπ στον τομέα αυτό. Τα πιο έξυπνα δίκτυα αποτελούν προϋπόθεση για την απανθρακοποίηση του ενεργειακού εφοδιασμού μας», σημείωσε ο πρόεδρος της ευρωπαϊκής τράπεζας επενδύσεων.
«Συμφωνώ απόλυτα με τον πρωθυπουργό Κυριάκο Μητσοτάκη, που έχει δηλώσει ότι η επένδυση στην ενεργειακή μετάβαση δεν αρκεί», ανέφερε κατά την τοποθέτησή του ο Werner Hoyer. «Πρέπει να στηρίξουμε τις επενδύσεις για την προσαρμογή στην κλιματική αλλαγή. Προσαρμογή σε ένα θερμότερο, πιο εχθρικό κλίμα και σε ακραία καιρικά φαινόμενα. Και είμαι στην ευχάριστη θέση να σας διαβεβαιώσω σήμερα ότι η ΕΤΕπ βρίσκεται σε προχωρημένες συνομιλίες με τις ελληνικές αρχές για την υπογραφή μιας σημαντικής συνεργασίας που θα βοηθήσει τη χώρα να αντιμετωπίσει τις επιπτώσεις αυτών των αφύσικων καταστροφών. Τα ετήσια αποτελέσματά μας από πέρυσι δείχνουν ότι η Ελλάδα είναι ο μεγαλύτερος δικαιούχος της χρηματοδότησης της ΕΤΕπ ως ποσοστό του ΑΕΠ. Αυτά που υπογράψαμε σήμερα είναι τα νεότερα παραδείγματα της σταθερής υποστήριξής μας για την ελληνική οικονομία».
Vice-President Kettel Thomsen leaves EIB to take helm of Danish Central Bank
Kettel Thomsen has served in the EIB’s Management Committee since Sept. 2020
His successor will be appointed by EU member states, the shareholders of the EIB
President Hoyer thanked Kettel Thomsen for his service
European Investment Bank (EIB) Vice-President Christian Kettel Thomsen has informed President Werner Hoyer of his decision to resign from the Management Committee, in order to take the helm of Danmarks Nationalbank, the Danish central bank.
An economist by training, Kettel Thomsen started his term as EIB Vice-President on 01 September 2020 after a long and distinguished career in Denmark’s ministry of finance and, more recently, as Permanent Secretary of State, Prime Minister’s Office. With effect from 1 February, 2023, he has been appointed as Governor by Royal Appointment and Chairman of the Board of Governors of Danmarks Nationalbank.
“Christian is a knowledgeable leader who commands the utmost respect among EIB colleagues and our partners across the world,” President Hoyer said. “I would like to thank him for his service to the EU bank. The entire EIB family wholeheartedly congratulates him, and wishes him well in his new, demanding, duties.”
Kettel Thomsen’s areas of oversight included EIB’s activities in Denmark, Greece, Ireland, and Romania, as well as financing of urban development, housing and agribusiness. EU member states, which are shareholders of the EIB, will now appoint his successor. Until then, President Hoyer will assume oversight of Kettel Thomsen’s responsibilities.
“I am grateful for the support, hard work and dedication of my colleagues at the EIB since I joined its ranks in 2020,” Kettel Thomsen said. “EIB financing helps safeguard EU’s energy security and the competitiveness of our economies, while leading the world toward a just transition to climate neutrality. It’s been an honor and a pleasure to contribute to this invaluable effort.”
Cyprus: EIB President confirms EUR 303 million provided for local projects in 2021, meets President Anastasiades during Cyprus visit
EUR 170m EIB and EIF backing to help for Cypriot business overcome pandemic, plus backing for road safety and fintech investment
Cyprus remains leading beneficiary of EIB engagement in Europe relative to GDP
EIB President meets President Anastasiades and key ministers, confirms future business, urban development and renewable energy investment
Werner Hoyer, President of the European Investment Bank (EIB), visited Cyprus to discuss recent and future investment in the country and see how the EIB is helping Cypriot companies overcome business challenges related to the COVID-19 pandemic, as well as improve road safety in the country.
“Last year was another important year for cooperation between the EIB and Cyprus, which is a key beneficiary of the bank’s financing. EIB support has helped the Cypriot economy overcome the challenges of the COVID-19 pandemic. The bank’s financing also continues to play a key role in enhancing economic and social opportunities in Cyprus. We look forward to continuing this longstanding cooperation and maximising the opportunities offered by the transformational investment available”, said Constantinos Petrides, Minister of Finance of the Republic of Cyprus and Governor of the European Investment Bank.
“This visit provides a timely opportunity to discuss with President Anastasiades and Finance Minister Petrides the positive impact the European Investment Bank is having in Cyprus after another successful year of broad engagement in 2021. EIB Group financing has helped Cypriot SMEs create jobs and invest in research and development. Last year, the bank also provided significant support for transport investment in Cyprus. We look forward to working with the Cypriot authorities and businesses on future priority investment”, said Werner Hoyer, President of the European Investment Bank.
Cyprus leading beneficiary of EIB financing
Cyprus remains the largest beneficiary of EIB support, per capita, of any country in Europe with outstanding EIB exposure totalling EUR 2.7 billion, or 13% of national GDP.
New EIB Group financing for priority investment in Cyprus last year totalled EUR 303 million, a 24% increase from 2020. This includes the largest ever European Investment Fund (EIF) engagement in Cyprus to enhance financing for COVID economic resilience.
EIB support in Cyprus in 2021 also represented the fourth largest support for transformational projects in 40 years of EIB Group engagement in the country.
EUR 170 million EIB Group support for business investment, including EIF record
Last year the EIB and EIF provided EUR 170 million of new targeted business financing to support investment by Cypriot companies during challenging times.
This includes EUR 100 million EIB backing for local SME and midcap companies under the second Cyprus Entrepreneurship Scheme following successful roll-out of the first package.
2021 represented the largest ever engagement by the European Investment Fund in Cyprus. New investment by Cypriot companies will benefit from EUR 70 million of new European Investment Fund financing to be managed by Hellenic Bank and Eurobank Cyprus.
EUR 112 million record backing for road safety and priority transport investment
2021 also represented the largest ever EIB support for transport investment in Cyprus. New financing agreed last year will speed-up roll-out of road safety cameras at accident blackspots across the country and enable road improvements in Nicosia, Limassol, Paphos and Vasilikos.
First venture debt financing supporting Hellas Direct innovation
Last year the EIB agreed to support research and development, and business expansion investment by Hellas Direct through the first EIB venture debt financing for a Cypriot company.
The new fintech investment will expand provision of technology led insurance services across the region and adapt financial services to a post-Covid world.
Future support for business investment, urban development and renewable energy
In the coming months the EIB expects to confirm new private financing initiatives with Cypriot banking partners under the Cyprus Entrepreneurship Fund risk-sharing initiative.
The EIB is also currently finalising backing for urban investment and renewable energy generation projects.
The EIB has provided more than EUR 5 billion for private and public investment in Cyprus since the start of operations in the country in 1981.
EIB President Werner Hoyer joins EU and Eastern Neighbourhood heads of state to pledge support for economic development and sustainable recovery in Eastern Partnership countries
€171 million of EU financing (EIB loans and EU grants) signed for strategic investments during the European Union-Eastern Partnership summit in Brussels underlines the EU commitment to sustainable and resilient socioeconomic growth in the region.
As the EU bank, the EIB fully supports the Eastern Partnership’s agenda for recovery, resilience and reforms underpinned by the EU Economic and Investment Plan.
The EIB has provided €11 billion of financing to the Eastern Partnership countries since the establishment of the partnership in 2009.
At the European Union-Eastern Partnership Summit in Brussels, EIB President Hoyer joined EU and Eastern Partnership leaders in pledging support for economic recovery and sustainable investment in the Eastern Neighbourhood. In the margins of the summit, the European Investment Bank (EIB) signed some of the first investments under the EU Economic and Investment Plan in the region: a total of €171 million, combining EIB loans and EU grants for Georgia, Moldova and Ukraine.
These investments in Georgia, Moldova and Ukraine will boost digitalisation, energy efficiency and climate action, as well as education. They will also unlock new sources of financing for the faster recovery of small and medium enterprises (SMEs) from the coronavirus pandemic. The Bank also highlighted its intention to provide finance and expertise for strategic investments in Armenia and Azerbaijan following its recent joint mission to these two countries alongside the European Commission and the European Bank for Reconstruction and Development.
All of the EIB’s activities are designed to support the EU Economic and Investment Plan (EIP) for the Eastern Partnership presented by Commissioner Olivér Várhelyi in July 2021. The Economic and Investment Plan offers €2.3 billion of EU grants to Eastern Partnership countries, with the potential to mobilise up to €17 billion in public and private investments for the economies of the region.
EIB President Werner Hoyer said: “The investments that we have just finalised with our partners in Georgia, Moldova and Ukraine reinforce the European Union’s support for the Eastern Partnership countries as well as Team Europe’s commitment to ensuring the sustainable and resilient socioeconomic development of our partner countries. Team Europe and Eastern Partnership countries share the same vision of a safe, prosperous, green and sustainable future for our children, a future that offers jobs, security and a clean environment to all. The EIB is very proud to be able to support this shared vision with our investments in key economic sectors such as digitalisation, education, climate action and SMEs. We look forward to the opportunity to further strengthen ties between the European Union and the Eastern Partnership and reinforce EIB’s role as one of the biggest multilateral investors in Eastern Partnership countries. We want to remain a reliable source of financial and technical support for the Eastern Partnership and advance the climate action agenda in the region.”
In Eastern Partnership countries — Armenia, Azerbaijan, Georgia, Moldova and Ukraine — the EIB offers accessible, long-term financing supported by guarantees from the European Union, as well as technical advice for the preparation of bankable projects. It complements its loan financing by attracting grants from the European Union.
EIB Vice-President Teresa Czerwinska, who is in charge of operations in the Eastern Partnership countries, said: “As a key stakeholder in the Eastern Partnership, the EIB continues to support the social and economic growth of EU partner countries in the Eastern Neighbourhood, reinforcing pan-European solidarity. Our most recent investments are dedicated to creating the conditions needed for better digital connectivity in Georgia, greater energy efficiency and a more sustainable future in Moldova, as well as faster COVID-19 recovery, refurbishment of about one thousand of individual schools and hospitals and modernisation of Vocational Education and Training infrastructure in Ukraine. This package of €171 million of investments is just the start of our support for the region under the EU Economic and Investment Plan and we look forward to cooperating with all the stakeholders in the Eastern Partnership to realise our ambitious objectives that we have set for the future.”
Improved energy efficiency and road connectivity for Moldova
In the Republic of Moldova, the EIB is leading an ambitious EU initiative to increase the energy efficiency of public buildings in the country, allowing for a 47% reduction in energy consumption and annual savings of 136 GWh of power. Renovations and upgrades financed by a €30 million loan from the EU bank will also boost local and regional economic activity, increase employment in the construction industry and in turn accelerate the post-COVID-19 recovery of the Moldovan economy. The European Bank for Reconstruction and Development (EBRD) is co-financing this project, which also benefits from EU grants.
The EIB also signed a Letter of Intent with the Government of the Republic of Moldova with a view to making €150 million available to support the rehabilitation and upgrade of priority Trans-European Transport Network (TEN-T) road sections and the implementation of road safety measures on selected road segments.
Since the start of pandemic in 2020, the EIB has provided €20 million in support of the accelerated recovery of Moldovan SMEs from the coronavirus pandemic.
Functional education for modern jobs, SME support and improved energy efficiency of public buildings in Ukraine
In Ukraine, the EU bank will invest €58 million to strengthen the country’s vocational education system and ensure efficient training for young people in professional skills required by local employers.An additional €20 million to be made available in local currency will be provided to the State Export-Import Bank of Ukraine (Ukreximbank) in order to enhance access to affordable financing for local SMEs and accelerate their recovery from the coronavirus pandemic.
A €5,2 million grant from the EU Neighbourhood Investment Platform signed at the European Union-Eastern Partnership Summit will facilitate the preparation and implementation of an €300 million EIB framework loan aimed at increasing energy efficiency in about 1000 public buildings, including hospitals, schools, cultural centres and kindergartens.
Since the beginning of the pandemic, the EIB has supported the European Union-Ukraine partnership by investing close to €1.39 billion for urban development, SME credit lines, transport, digitalisation, innovation, energy and the reconstruction of infrastructure in areas affected by the conflict in eastern Ukraine.
Fast internet for better quality of life and new business opportunities in rural Georgia
In Georgia, the EIB will invest €34 million to deliver high-speed internet connections to some 500 000 people living in rural and remote areas. The loan will finance the installation of some 5 000 km of optic fibre cables and provide open access internet infrastructure for Georgia’s telecom operators.
The investment will improve quality of life, create new business opportunities and increase Georgia’s resilience to crisis.
EIB financing supports climate action, COVID-19 recovery, transport and connectivity, and digitalisation
Since 2020, the European Investment Bank has approved €1.52 billion in loans for the countries of the Eastern Neighbourhood, namely Ukraine, Georgia, and Moldova, supporting EU priorities and key initiatives.
This included investments in faster job creation and retention through support for the COVID-19 recovery of SMEs, climate action, digitalisation and fast internet, and transport and connectivity projects across the region.
From 2014 to date, the EU bank has invested €8.5 billion across all key economic sectors in partner countries of the EU Eastern Neighbourhood, including the Republic of Belarus, where the EIB ceased all of its activities to back EU sanctions against the regime in Minsk.
EIB activities in the Eastern Neighbourhood included investments and technical assistance in project preparation for the renovation of hospitals and procurement of vital COVID-19 medical equipment, fast internet networks and the construction of major road corridors in Georgia. The EIB also invested in the renovation of municipal social infrastructure, innovation centres, and the digitalisation of postal services in Ukraine, as well as the creation of credit lines for Moldovan SMEs to accelerate their recovery from COVID-19.
EU Economic and Investment Plan (EIP) On 2 July, 2021, the European Commission and the EU High Representative for Foreign Affairs and Security Policy outlined a proposal on how to take forward priorities for cooperation with our Eastern partners in the years to come. This agenda is based on the five long-term objectives, with resilience at its core, as defined for the future of the Eastern Partnership in March 2020. It will be underpinned by a €2.3 billion Economic and Investment plan in grants, blending and guarantees, with a potential to mobilise up to €17 billion in public and private investments.
EIB President Werner Hoyer calls for ambitious climate plans
The European Investment Bank (EIB) President Werner Hoyer and Vice-President Ambroise Fayolle will discuss climate action at a series of events this week during the 76th session of the United Nations General Assembly and New York Climate Week. They will explain how the EIB is raising its climate ambition and will highlight the importance of partnerships to meet global climate goals. They also will outline what it will take to make the COP26 climate conference a success.
EIB President Werner Hoyer commented: “Time is running out to act on climate change. With six weeks to go until the COP26 climate conference, we need a global response now. As the EU Climate Bank, the EIB is accelerating its efforts. We are formalizing a new climate Adaptation Plan. We are ensuring that our clients are aligned with the Paris Agreement. And we are increasing our support for green projects outside the EU, with a special focus on Africa. I call on all our partners to come forward with ambitious climate plans at COP26 to promote a just transition to net-zero, globally.”
Building the Green Consensus
On 20th September, the EIB is co-organising a live online event, Building the Green Consensus. Speakers include EIB President Werner Hoyer; the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso; the Director for the Center of Sustainable Development at Columbia University, Jeffrey D. Sachs; and the chief executive of the Climate Investment Funds, Mafalda Duarte. They will explore how public finance can encourage the private sector to invest more money in green projects.
Getting it done
Also on 20th September, EIB Vice-President Ambroise Fayolle will participate in the opening day of New York Climate Week to discuss how partnerships can help governments, cities, companies and the financial sector achieve the global climate targets.
High-level dialogue on Energy
On 24th September, EIB President Hoyer will address the UN High-Level Dialogue on Energy, convened by UN Secretary-General António Guterres. The EIB is a co-leader of the working group on finance and investment that is one of the five focus areas of a UN roadmap launched in June. The roadmap was created to show how we can give everyone in the world access to sustainable energy by 2030.
EIB President Hoyer: We stand ready to support Greece and other countries affected by fires
High temperatures have helped set vast areas of Greece, Italy and the Southern Mediterranean region on fire. Thousands of people have seen their homes and businesses burn to the ground and dozens of people across the region have lost their lives. Even Athens, the cradle of European civilization has been threatened. Fires on the island of Evia and in the Peloponnese are continuing. The Evia fire is now the single biggest wildfire ever recorded in Greece. In Italy, firefighters said they battled more than 500 blazes overnight in Calabria and Sicily.
Today the European Investment Bank stands in solidarity with the victims of these horrific disasters in Greece and elsewhere in Southern Europe, and is working to lend its support for the affected.
In Europe’s neighbourhood, forests in Turkey, Russia and Algeria are also ablaze. Across the Atlantic wildfires are devastating large parts of California. The effects of a hotter climate are clear, apparent and deadly.
But what is most terrifying about this is the prospect of worse yet to come. As the Intergovernmental Panel on Climate Change made clear this week, global temperatures are likely to rise by 1.5°C above pre-industrial levels by 2040. At this level, heatwaves, such as the one we are experiencing now are likely to become more frequent and severe. This is the best-case scenario.
While we are at the mercy of the weather in the short term, the long-term fate of our climate is in our hands. The burning in Southern Europe and the floods last month further North show the vital importance of adapting our infrastructure and societies for the changes ahead. The EU has committed to achieving carbon neutrality by 2050 and it’s time other countries and regions did the same. Last year, the European Investment Bank set out its Climate Bank Roadmap, a plan to increase our investment in climate and environmental sustainability to 50% of our annual lending by 2025. This is part of our commitment, as the EU’s climate bank, to mobilise €1 trillion of climate and environmental sustainability investment by the end of the decade.
We stand ready to support Greece and other countries and their people affected by these extreme climate events.
Statement by EIB President Werner Hoyer on the death of Wolfgang Roth
Former EIB Vice-President Wolfgang Roth passed away on 4 July 2021 in Bonn. He was 80 years old.
“As a Vice-President from 1993 to 2006, Wolfgang Roth left a lasting legacy both inside and outside the EIB” President Hoyer commented. “Colleagues who had the privilege of working with him remember his deep commitment to European integration, his belief in a strong Europe based on solidarity, and his boundless energy – an energy he dedicated not only to business, but also to the development of the EIB’s modern art collection”.
Before joining the EIB, Wolfgang Roth had a distinguished career in politics. He was elected to the German Bundestag as an SPD member in 1976. From 1981 to 1991 he was deputy chairman of the SPD parliamentary group. He also edited and authored several books in economics and politics.
A trained economist, Wolfgang Roth obtained various awards for his achievements, including the Grand Cross of Merit of the Federal Republic of Germany in 2004.
With Wolfgang Roth’s death, Europe has lost one of its most committed advocates. He will be missed.
Senegal President Macky Sall and EIB President Werner Hoyer discuss COVID response and sustainable investment priorities
President Macky Sall welcomes strong EIB support for public health private sector, clean energy, urban development, water and waste management across Senegal
EIB President highlights impact of close EIB cooperation with public and private partners to support job creation, climate action and regional economic development
EIB ready to support new initiatives to stimulate economic growth and improve education in Senegal
During an official visit to Brussels Macky Sall, President of the Republic of Senegal, accompanied by the Foreign and Economy Minister today met Werner Hoyer, President of the European Investment Bank to discuss public and private investment priorities to tackle the impact of COVID-19, enhance economic opportunities, increase access to clean energy and improve services across Senegal, including in Dakar, secondary towns and rural districts.
“The European Investment Bank is a key partner to accelerate sustainable development and climate action in Senegal and Africa. The excellent cooperation between Senegal and the EIB is creating economic opportunities, delivering better access to essential services including water, waste management, energy and sustainable transport and strengthening efforts to improve public health and economic resilience to COVID-19 in Senegal. On behalf of Senegal I wish to congratulate President Hoyer and the EIB for their 55 years of engagement in Senegal and our shared vision of a better and greener future for Senegal and Africa.” said Macky Sall, President of the Republic of Senegal.
“The close partnership between the EIB and public and private partners in Senegal is accelerating visionary and ambitious projects to transform access to finance, clean energy, water and waste services for millions of Senegalese citizens. Today’s meeting with President Macky Sall, Minister Hott and Minister Tall Sall will enable even closer cooperation. In line with European Union priorities for its cooperation with Senegal, the EIB will focus on climate action, sustainable development and tackling the health and economic impact of COVID-19. A year ago President Macky Sall and I opened the Africa Day in Dakar. This enabled the sharing of best practice in sustainable urban development with stakeholders and city leaders from across Africa. Cooperation between Senegal and the European Investment Bank, as part of Team Europe, will strengthen investment ties and ultimately improve lives,” said Werner Hoyer, President of the European Investment Bank.
Last year the EIB approved EUR 231 million of new support for public and private investment in Senegal, including support to improve public health, access to microfinance, water and waste services and backing economic resilience to COVID-19. As part of Team Europe the EIB is also backing COVAX that is set to provide 1.3 million COVID vaccines to Senegal following delivery of the first 324,000 doses in Dakar in March.
Senegal leading green investment best practice in Africa
Last month the EIB and Portuguese EU Presidency hosted the Dakar Green Talk, which brought together more than 200 sustainable investment experts to share best practice and highlight how to maximise the impact of green and digital investment in Africa.
Dakar was the first of 25 cities across Africa and Europe to host a Green Talk ahead of the High-Level EU-Africa Green Investment Forum being held in Lisbon on 23rd April in Lisbon.
Supporting economic resilience to COVID and vaccines for Senegal
Senegal was the first country in Africa to benefit from the EIB’s rapid response to address the impact of COVID-19 in Africa following high-level discussions in the first weeks of the COVID-19 pandemic.
Together with experts from the Senegalese government and the EU Delegation in Dakar the EIB designed a targeted financing programme that forms a key component of Senegal’s comprehensive response to the pandemic. The CFAF 49 billion EIB support is helping banks to provide loans to businesses that hardest hit by COVID-19, in sectors such as fishing, agriculture, tourism, manufacturing and retail and contribute to the efforts of the Government of Senegal to respond to the uncertainty and shocks resulting from COVID-19.
The EIB is also backing the global COVAX initiative that delivered the first COVID-19 vaccines to Senegal in March.
Last year approved a EUR 20 million loan to further develop private sector COVID testing and strengthen health resilience across Senegal in partnership with the Pasteur Institute in Dakar. Details are expected to be finalised in the coming weeks.
Enhancing access to water and waste services across the country
In February the EIB confirmed CFAF 75 billion (€114.5 million) of new support to strengthen drinking water supply in towns to the cities of Saint-Louis, Kaolack and Kolda, alongside improving waste management in cities and cities across the country including Saint-Louis, Podor, Matam, Thiès, Mbour, Ziguinchor, Kolda and Sédhiou.
This will ensure that 634 000 people, will have adequate access to drinking water and provide subsidies water connections for 350,000 more.
EIB backed urban waste management investment, the EIB’s first operation in the sector in Senegal, will benefit 3.2 million people, 20% of the Senegalese population, and support the government’s Zero Waste programme.
Building on 55 years of EIB engagement in Senegal
The EIB has supported water, clean energy, health, digital and microfinance projects across Senegal since 1966.
EIB-backed investment in recent years has helped to connect rural communities to the SENELEC electricity network and increased access to finance by smallholders and entrepreneurs in cooperation with Baobab Senegal.
The EIB is currently examining possible financial and technical support for youth employment, microfinance, digital connectivity,agriculture, sustainable urban transport and rural electrification investment in Senegal.
Senegal a leading partner for EIB engagement in Africa
In 2020 the EIB provided 4.7 billion for new investment across Africa, including 71% in fragile and vulnerable regions.
EUR 200m EIB backing for climate, economic and social cohesion projects across Greece
Loan of EUR 200 million to finance the national contribution of 2014 – 2020 Partnership Agreement between EU and Hellenic Republic, with total EIB support reaching EUR 1.7 billion.
Initiative to accelerate small scale innovation, entrepreneurship, clean energy, environmental protection, education and health projects.
Priority investment in high-impact small scale projects across Greece will be accelerated following agreements signed by the Minister of Finance of the Hellenic Republic and Governor of the European Investment Bank, Christos Staikouras, Deputy Minister of Development and Investments of the Hellenic Republic, Yannis Tsakiris, European Investment Bank President, Werner Hoyer and EIB Vice President responsible for Greece, Christian Kettel Thomsen.
The latest contracts were signed during a visit to the EIB headquarters by Minister Tsakiris Luxembourg earlier today.
“Investment to improve health and education, enhance economic opportunities, and strengthen climate action is key for Greece in these challenging times. Today’s new EUR 200 million agreement will contribute to long-term financing and accelerate a green recovery following the COVID-19 pandemic. The excellent cooperation between the Greek authorities and the EIB Group’s Investment Team for Greece is testament to the enduring, intense, positive relationship between the country and the EU Bank.” said Werner Hoyer, President of the European Investment Bank.
This key agreement will enable schemes under the Greek 2014 – 2020 Partnership Agreement between EU and Hellenic Republic to be smoothly financed and increase economic and social impact. The latest EUR 200 million EIB financing represents the final tranche of EUR 1.7 billion European Investment Bank support for the Greek national contribution to EU structural fund backed priority investment across the country, which are co-financed by the EU Structural and Investment Funds. This will enable projects under the EUR 18.6 billion six-year European Union programme to be completed or expanded to increase economic and social impact.
“EUR 1.7 billion support from the European Investment Bank is speeding-up and making best use of European Union structural funds to strengthen the competitiveness of Greek companies, promote entrepreneurship, improve skills, better protect the environment, complete climate mitigation projects and ensure that priority projects are completed. Today’s new EUR 200 million agreement follows the successful use of earlier financing and will help to complete schemes of national importance.. The close partnership between Greece and the EIB’s Investment Team for Greece is delivering new opportunities and substantially contributing to Greece’s strong, sustainable and inclusive recovery from the health, social and economic challenges of COVID-19”, said Christos Staikouras, Minister of Finance of the Hellenic Republic and Governor of the European Investment Bank.
“The European Investment Bank is a key partner for Greece and supports transformational public and private investment across the country. Today’s EUR 200 million agreement completes EIB backing for the 2014-2020 EU investment and follows successful implementation of hundreds of projects under the 2014 – 2020 Partnership Agreement. The Ministry of Development and Investments, having the role of coordinator in matters of investments, financing and development, is committed even more to enhance further the cooperation with the EIB”, said Yannis Tsakiris, Deputy Minister of Development and Investments of the Hellenic Republic.
Unlocking high impact investment across key sectors
Confirmation of EIB financing will accelerate crucial investment in research and innovation, communications, sustainable transport, water, waste, renewable energy and energy efficiency, health, education and urban regeneration projects across Greece.
Enhancing climate action in Greece
More than 25% of the projects will reduce climate emissions and reduce the impact of climate change and help Greece to contribute to global climate goals.
This includes schemes to cut energy bills and carbon emission by improving energy efficiency, smart energy distribution and improving water management.
Increasing EIB cooperation with Greek authorities
During the visit to the EIB the Deputy Minister of Development and Investments, responsible for Public Investment and Structural Funds in Greece, discussed ways to increase technical cooperation with the EIB to enhance the impact of future investment in the country with President Hoyer, Vice President Kettel Thomsen and the EIB’s dedicated Investment Team for Greece.