Greece ranks first among countries with investments triggered by the Juncker Plan's European Fund for Strategic Investments (EFSI) relative to GDP, according to data presented by the outgoing European Commission on Tuesday.
"As of October 2019, the top countries ranked by EFSI-triggered investment relative to GDP are Greece, Estonia, Portugal, Bulgaria and Poland," the European Commission said, noting that Juncker Plan projects "ranged from pan-European high-speed charging infrastructure for electric vehicles, to a food waste management company in Romania, to reintegrating former military personnel into the workplace in the Netherlands."
In addition to financing innovative projects and new technologies, the Juncker Plan has supported other EU objectives, such as climate, social and transport policy, the Commission said. The Juncker Plan benefitted Europeans by providing access to renewable energy to more than 10 million households, improving healthcare services for 20 million Europeans and upgrading rail and urban infrastructure for 182 million passengers per year.
Greece benefitted from 2.7 billion euros in funding from the European Investment Bank, which will trigger total investments of 12.1 billion euros. This includes 33 programs and agreements with SMEs (already approved). Specific examples include a 13-million-euro loan to the Systems Sunlight batteries factory that allows it to expand its production capacity by 65 pct; Terna Energy that received 24 million euros to build and operate three wind farms; and Agrifarm, a cooperative that includes five small businesses using natural practices to cultivate legumes and rice.