Greece tops EU list of total funding approved under Juncker investment plan

Greece has already absorbed 2.1 billion euros from the Juncker Plan, according to European Commission data as of February 2018.
The Commission is set to trigger 8.1 bln euros in additional investments, placing Greece on top of the list of total investment under the European Fund for Strategic Investments (EFSI) as a proportion of GDP, the Commission said. 
Approximately 1.8 bln in total financing has been disbursed for 12 projects in infrastructure and innovation, financed by the European Investment Bank (EIB) with EFSI backing. The projects are set to trigger another 5.7 bln in total investment.
Another 319 million in total financing has been disbursed for 9 Small and Medium enterprises (SMEs) approved agreements with intermediary banks, financed by the European Investment Fund (EIF) with EFSI backing. They are set to trigger approximately 2.4 bln in investments, with some 11,298 SMEs and mid-cap companies expected to benefit from improved access to finance, the Commission said.
Examples of funding projects include a 24 mln loan to Terna Energy Group to build three new wind farms in Viotia, central Greece; a 150 mln loan to telecoms operator Cosmote to roll out high-speed broadband across Greece; EFSI-backed financing of 15 mln to agri-food company Creta Farms develop new products and expand abroad, on Crete; and an EIF guarantee backing a National Bank of Greece loan to kalamata olive and olive oil company Mani Foods to invest in new machinery.

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