New Infrastructure Fund to begin with 400 mln euros in capital

Two new significant funding tools will be launched in the first quarter of 2017, Alternate Economy Minister Alexis Charitsis told ANA on Wednesday.

In an interview, Charitsis said that a new Infrastructure Fund will be able to fund specific infrastructure categories, such as energy saving in public buildings and tourist infrastructure development, while a Micro-funding Fund will focus on supporting small- and medium-sized enterprises, individuals and social economy.

The minister said that a rational planning of infrastructure projects, focusing on transport, energy and environment is one of the elements that will lead to an efficient management of European funds. According to the planning of Economy ministry, the creation of an Infrastructure Investment Fund -which will focus on synergies between public and private sector- is an additional tool to maximize the exploitation of available funds, particularly in the current period with a lack of liquidity putting a break to the planning and implementation of infrastructure projects.

European Investment Bank (EIB) will act as the manager of the fund. The initial capital of the fund will be around 200 million euros, while through leverage additional funds were expected to be raised from public and private sources to raise the initial capital of the fund to 400 million euros.