The EIB grants 100-million-euro loan for energy efficiency in Greece | Finance and Markets

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The European Investment Bank (EIB) will help to reduce the electricity bills of the Greek households by stimulating them to improve their energy efficiency. An amount of 100 million USD will be transferred to the largest Greek Piraeus Bank for lending to improve electricity consumption in existing homes, street lighting and water-jet pumps used by private individuals.
The financial injection from the bank, which is owned by the 28 EU governments, will improve the conditions under which loans are granted to improve energy efficiency and will increase the breadth of the Greek Piraeus program by covering 80% of the financial risks.
According to the European bank, this will lead to a reduction in the electricity bills of Greek households due to a decrease in their energy consumption.
The 100-million-euro loan is the largest in the EU granted by the EIB under the energy efficiency programs and will allow citizens from all over Greece to join it.
According to the European Commission, the electricity prices are the lowest in Bulgaria, while the highest are in Denmark and Germany. Greek electricity is below the EU average, ranking 11th after Sweden and before Cyprus with 1.94 EUR per kWh, compared to 0.96 EUR per kWh in Bulgaria.
Recalculated by income, however, Bulgarians pay the most expensive electricity across Europe, followed by Latvians and Swedes.
Income versus electricity is cheapest in Luxembourg and the Netherlands. The average Bulgarian paid 3% of the monthly income for electricity bill at 1.9% in the EU. The Greek citizen gives 2% of monthly income for the electricity bill.