€ 8800 mm­llnn ffoorr een­neer­rggyy aan­ndd tteec­chhn­ni­ic­caall aasss­si­is­st­taan­nc­cee

Financial Mirror (Cyprus) - - FRONT PAGE -

The Euro­pean In­vest­ment Bank (EIB) will pro­vide EUR 80 mln to fi­nance elec­tric­ity pro­duc­tion on 18 Greek is­lands in the North and East Aegean, Dode­canese, Cy­clades, and the Di­apon­tia is­land com­plex.

EIB Pres­i­dent Werner Hoyer and Arthouros Zer­vos, CEO of Pub­lic Power Cor­po­ra­tion S.A. (PPC/DEH) signed the fi­nance agree­ment in Athens in the pres­ence of Min­is­ter of En­vi­ron­ment, En­ergy and Cli­mate Change, Yian­nis Ma­ni­atis. EIB Vice Pres­i­dent, Wil­helm Molterer, who also at­tended the cer­e­mony, pre­sented plans for en­hanced tech­ni­cal as­sis­tance in Greece, through strength­en­ing and ex­ten­sion of the JASPERS (Joint As­sis­tance to Support Projects in Euro­pean Re­gions) ini­tia­tive.

“We are con­tin­u­ing our strong support in key sec­tors for growth and jobs in Greece through lend­ing, blend­ing and ad­vis­ing. We support in­vest­ment to im­prove the peo­ple’s liv­ing and eco­nomic con­di­tions with the up­grad­ing of the elec­tric­ity pro­duc­tion on sev­eral non-in­ter­con­nected Greek is­lands. This is a fur­ther step to en­sur­ing se­cu­rity of elec­tric­ity sup­ply of the is­lands, fol­low­ing the EUR 65 mln agree­ment we signed in Septem­ber to support the con­nec­tion of the main Cy­cladic is­lands with the main­land in­ter­con­nected sys­tem of Greece,” said EIB’s Hoyer.

JASPERS is a joint ini­tia­tive of the Euro­pean In­vest­ment Bank, the Euro­pean Com­mis­sion and the Euro­pean Bank for Re­con­struc­tion and De­vel­op­ment (EBRD) cre­ated in 2005 to pro­vide tech­ni­cal as­sis­tance to the au­thor­i­ties man­ag­ing EU struc­tural funds in Bul­garia, Croa­tia, Cyprus, Czech Repub­lic, Es­to­nia, Hun­gary, Latvia, Lithua­nia, Malta, Poland, Ro­ma­nia, Slo­vakia and Slove­nia. Greece, FYROM, Mon­tene­gro and Ser­bia are also el­i­gi­ble to JASPERS’ as­sis­tance.

Since Jan­uary 2013, three ma­jor projects to­tal­ing EUR 425 mln have been ap­proved, in­clud­ing a new tick­et­ing sys­tem for the Athens Metro al­ready in op­er­a­tion.

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