The European Investment Bank (EIB) and Greece are working together to improve urban areas, increase the use of renewable energy and energy efficiency in the country.

Under the European Regional Development Fund (ERDF), the EIB and the Ministry of Development and Investments of the Hellenic Republic together with the Managing Authority of the Operational Programme Competitiveness, Entrepreneurship and Innovation, created a fund of funds for the programming period 2014-2020. The EIB manages €450 million on behalf of the country.

This fund of funds is one of the financial instruments that the EIB is deploying in EU countries. Read more about our shared management funds and financial instruments.

Investing in renewable energy, energy efficiency and urban development

The financial instrument can support wind farms, photovoltaic installations, biomass and biogas plants and hydroelectric power stations as well as new investments to improve energy efficiency in public and private buildings.

The financial instrument also supports socio-economic development in urban and islandic areas. The instrument targets waste and water infrastructure, industrial parks, touristic infrastructure, brownfield re-development for commercial, entrepreneurial, educational and cultural use. It also supports the exploitation of public assets’ stock.

Who can apply

• Public and private entities
• Enterprises and/or special purpose vehicles entitled to implement and operate the supported projects within the territory of Greece.

Projects supported should not be completed (the financial Intermediaries shall not re-finance acquisitions or participate with their funding in projects already completed).

Where to apply

National Bank of Greece
Go to the website  

Piraeus Bank
Go to the website  

About the European Structural and Investment Funds

Through the European Structural and Investment Funds (ESI Funds) financial instruments, the EU invests in local and regional projects that contribute to job creation and a sustainable and healthy European economy.

The European Regional Development Fund is one of the five available ESI Funds. It strengthens economic and social cohesion in the EU by correcting imbalances between regions.