By Danae Alexaki
A loan contract worth 15 million euros by the European Investment Bank (EIB) to Creta Farms was signed on Tuesday, inaugurating the EU-wide “Juncker Package” for Greece-based companies and projects.
The contract foresees two loan installments for the total sum, with the first expected over the summer and the second in 2017. The EIB loan has a repayment period of five years and has been adjusted to complement the company’s development plan, namely, to upgrade and transform it into a multi-product foodstuffs producer
The Greek government has so far identified 42 prospective projects, worth 5.6 billion euros, for inclusion in the so-called “Juncker package”, a stimulus scheme named after the EU Commission president.
The mechanism is officially known as the European Fund for Strategic Investment and foresees financial support to private sector projects via bank guarantees and low interest rate subsidies.
Two primary “categories” have been cited for Greece-based projects: one being the creation of new marinas and the other the being upgrades and improvements to public buildings.
Additionally, the Greek side has identified 20 energy related projects, worth 2.17 billion euros, that it wants to land in the package, including an undersea power cable linking Crete with the Peloponnese, a LNG terminal in Alexandroupolis, solar/wind parks, small-scale hydroelectric dams, utilizing geothermal energy for hydroponic greenhouses as well as more effective power distribution.
The first contacts between the ambitious meats and deli meats producer, which was founded and operates from the island of Crete, and the EIB were held during the first-ever Business Conference held last May in Athens, which sponsored by “Naftemporiki”.
