A zero-emission economy, agricultural production, defense, and security are among the key strategic priorities that the European Investment Bank has set for Greece, according to European Investment Bank (EIB) Vice President Yannis Tsakiris. 

DIGITAL TRANSFORMATION: TECHNOLOGY

Digital transformation and investment in cutting-edge technologies are also high on the EIB's priority agenda. As Mr Tsakiris said, there will be a focus on financing funds across the full range of investments. He also said that in May, it was agreed that the bank's subsidiary, the EIF, would manage €200 million available in Greece from European structural funds to support small and start-up companies in Greece in the life sciences, health and sustainability sectors.

DEFENCE - SECURITY

Defence and security is a new strategy for the EIB, which will finance radar, drones, patrol vessels, and specialised infrastructure, with a particular focus on technology. Recently, the bank provided funding for a port in Denmark that NATO will use. This is a difficult sector, he said, as the main customers are the countries' ministries of defence and there is no outward focus.

SUPPORTING 

The bank is focusing on supporting the European Union's cohesion policy and continuing its contribution to income convergence and equitable development. Most of the projects it finances in Greece are implemented and create new jobs in cohesion regions. 

AFFORDABLE HOUSING

Housing policy is a project that the EIB is developing and is due to announce further details in February 2025. The Bank's aim is to strengthen the financing of social, affordable and sustainable housing. "The aim is to influence supply and bring down rental prices. To do this, there has to be a subsidy and this will be done if the government contributes." 

CAPITAL CONSOLIDATION

According to Tsakiris, the bank can enhance capital consolidation in order to make it easier to transfer investments on a pan-European level. "Essentially, it is about making it easier to transfer investments pan-European and it has two frameworks. One is regulatory but the other is financial," he said, adding that the EIB wants to significantly expand non-bank equity.  "We want to introduce new financial instruments that will help develop and deepen the common capital market in the European Union. Again, Greece is an ideal case for the development of such innovative products, such as EquiFund created with the support of the EIF," he added.

EUROPEAN CERTAINS 

As regards entrepreneurship as a whole, Mr Tsakiris underlined that another EIB objective is to finance the scaling up of European unicorns by expanding the European Tech Champions initiative, which has already made progress in connecting private investors with high-tech companies. "We also expect to launch a new dedicated fund, called 'exit platform', designed to facilitate acquisitions and IPOs of technology start-ups by European companies."

MARITIME INDUSTRY 

Asked also about how attractive the shipping and marine industry sector is for financing, he replied that the issue with Greece is that it will not be able to catch China's construction or retrofit cost prices. "We can theoretically finance ship retrofits, but which ship has to be built in European shipyards."