Pierakakis: Strengthening EIB’s Role Vital for Defense, Green Transition, and Digitization

In a heartwarming narrative amid crisis, Greece’s Finance Minister, Kyriakos Pierakakis, highlighted the country’s success story through a recent social media post. Pierakakis emphasized the pivotal role of the European Investment Bank (EIB) during Greece’s economic hardship when capital access was nearly nonexistent. Thanks to strategic intervention by the European Investment Fund (EIF) and decisive support from the EIB, Greece transformed its barren landscape into a vibrant force of innovation and entrepreneurship. Today, there are over 35 active fund managers, more than €2 billion in available investment capital, and numerous Greek startups with international potential. Beyond numbers, this transformation has sparked a cultural shift encouraging young talent to innovate, export knowledge, and claim their place in the global market. During a meeting in Luxembourg with EIB President Nadia Calviño and Greek Vice President Gianni Tsakiris, Pierakakis reaffirmed the strategic importance of Greece-EIB collaboration. Annual funding remains steady at €2.3-2.5 billion, with projections exceeding €3 billion this year, focusing on business support. The EIB’s critical contributions have sustained infrastructure, public benefit companies, banks, and overall economic functionality, even during challenging times. Facing modern challenges like defense, green transition, and digitization, enhancing EIB’s role is essential. Pierakakis noted that Greece can utilize EIB tools more effectively, combining financing with technical assistance for secure project implementation. He praised the Investment Team Greece & Cyprus for their exceptional daily work, asserting that the EIB is now more crucial than ever for Greece’s development, making this partnership a top priority.