The European Commission has given the green light to Greece’s request for €2.3 billion in loans. The funds are part of a larger plan to help the country recover and boost growth.
Greece met the required goal for this part of the plan, which involves making significant changes in areas including green energy, digital technology, exports, and innovation. The goal was to sign deals worth €4.5 billion with companies for private investments.
The loan program is designed to boost private investments that can help Greece’s economy grow faster.
Officials say it will make it easier for businesses to get loans and invest in projects like new energy systems, construction, and expanding factories.
Examples of funded investments include replacing existing electricity consumption metres and measurement systems with digital metres, investments in construction projects and civil engineering works, development of a photovoltaic park, construction of wind farms, and increasing the production capacity of industrial facilities with new production lines.