European Investment Bank

The European Union has issued a stern warning to the Macedonian government regarding the allocation of funds for Corridor 8, stressing that these funds must not be redirected to other projects or transport corridors.

The first investments by the Cyprus Equity Fund, set up by the Cypriot government in cooperation with the European Investment Fund (a subsidiary of the European Investment Bank) and with a total budget of 37.5 million euros, are expected to begin this fall, so as to cover the financial gap in the fields of entrepreneurship and innovation.

Finance Minister Kostis Hatzidakis insisted on Friday that it is necessary for the European Investment Bank (EIB) to take on a greater role in strengthening the defense capability of Europe.

The gap in productive investments in Greece remains large, as they represent approximately 12% of the country's gross domestic prouct, compared to approximately 16% of GDP in the European Union, according to the annual investment survey of the European Investment Bank for 2023, presented on Thursday in Athens by its chief economist, Deborah Revoltella.

Greek startups and small and medium-sized enterprises in life sciences, healthcare and sustainability will gain better access to investment finance under a new equity agreement managed by the European Investment Fund (EIF) arm of the European Investment Bank (EIB) Group.

The EU's financing body has said it would open up lending to more technologies that can be used by militaries as Europe pushes to rearm in the face of Russia's war on Ukraine.

The European Union has been clambering to produce more weapons in a bid to continue the flow of arms and ammunition to Kiev and keep Europe's own stocks in good health.

Amid growing concerns over security threats posed by Russian aggression, Bulgaria and a coalition of 13 other European Union countries have urged the European Investment Bank (EIB) to bolster defense financing. The call, joined by powerhouse nations Germany and France, aims to enhance the bloc's defense capabilities in response to escalating tensions, as reported by Bloomberg.

The government is committed to innovation and research, Development Minister Kostas Skrekas said on the occasion of the signing on Friday of a European Investment Bank (EIB) loan to the Hellenic Foundation for Research and Innovation, amounting to 143 million euros. 

The meetings of the 6th Joint Interministerial Working Group for the Economic, Industrial, Scientific, and Technical Collaboration of Greece-Ukraine concluded in Athens on Thursday, under the direction of Deputy Foreign Minister for Economic Diplomacy Kostas Fragogiannis and Ukrainian State Minister Oleh Nemchinov.

EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the European Union, invested a record-breaking 1.2 billion euros across the Western Balkans in 2023 (€365 million more than in 2022).

The investments went to sustainable and energy transition projects that support the region's EU accession, economic, climate and connectivity efforts.