Greece granted £285m for energy projects

Greece will receive a loan worth €285 million (£199.5m) to support energy projects in the country. It aims to improve electricity transmission and interconnection networks as well as extend an LNG terminal. […]

By Jacqueline Echevarria

Greece will receive a loan worth €285 million (£199.5m) to support energy projects in the country.

It aims to improve electricity transmission and interconnection networks as well as extend an LNG terminal.

The cash from the European Investment Bank (EIB) will also support environmentally friendly projects and those that boost energy security and efficiency.

EIB President Werner Hoyer said the projects will create jobs and have “positive effects” in the country’s environment, economy and living conditions.

He added: “Efficient and extensive energy generation systems and distribution grids underpin growth in every sector. Modernisation is essential for environmental and climate-related action. We are determined to enhance our co-operation with the Hellenic Republic, other European development finance institutions and private investors in further assisting recovery in Greece.”