BAKU, Azerbaijan, January 25. The European
Investment Bank (EIB) has committed to providing technical
assistance to five regions in Greece as part of the country’s
efforts to phase out lignite by 2026 and transition to climate
neutrality, Trend
reports.
Through the InvestEU Advisory Hub, the EIB will guide Western
Macedonia, Megalopolis, Crete, and the North and South Aegean
Islands in addressing the socio-economic challenges of the green
transition.
The EIB’s 2.75 million euro support will help these regions
design investment programs to revitalize local economies, promote
renewable energy, and create sustainable job opportunities.
Greece’s lignite phase-out, which will end the use of this
high-emission energy source, requires strategic planning to ensure
the regions affected by the closure of coal plants and mines are
not left behind.
“The EIB remains committed to helping Greece navigate the
challenges of the green transition, ensuring that no region is left
behind,” said Yannis Tsakiris, EIB Vice-President. The bank will
provide expertise on investment planning, institutional
strengthening, project management, and grant application
preparation, aligning with EU goals and the European Green
Deal.
This initiative is part of Greece’s “Just Transition Plan” and
the EU’s Just Transition Mechanism, which seeks to help areas most
impacted by the transition to low-carbon economies. The EIB’s work
builds on previous support for similar efforts in Germany, Poland,
and the Czech Republic.
