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Chr. Megalou: Green loans and investments of € 9 billion in three years

New loans with criteria of Environmental, Social and Corporate Governance (ESG) amounting to 4.1 billion euros, funds of 3.5 billion euros to ESG mutual funds and issuance of green bonds totaling 1.8 billion euros are included in Sustainability Banking Envelope of Piraeus Bank for the period 2022-2025.

As Christos Megalou, CEO of the Bank, pointed out at the conference “ESG for Banks, Firms and Institutional Investors: Advances and Challenges”, organized by the Institute of Finance and Financial Regulation and the European Bank for Reconstruction and Development, Piraeus Bank, ” which has pioneered the adoption of ESG criteria in all areas of its activity, will maintain a leading role in the financing of investments related to sustainability ”.

“Our priority is sustainability, which also creates significant business opportunities,” said Mr. Megalou, who stressed that the Bank’s role is to provide sustainability financing and, at the same time, to advise its clients to understand the benefits and opportunities of adopting a “green agenda”.

Piraeus Bank focuses on sectors of the economy with growth prospects, which demonstrate resilience, extroversion, quality and sustainability, and in this regard, sectors such as manufacturing, hospitality and energy, with an emphasis on renewable energy sources (RES), that they will absorb almost half of the new production of loans in the period 2022 – 2025, ie about 18 billion euros in new loans.

Mr. Megalou stressed that the large sums of money available from the Recovery Fund – together with national and other European resources represent 40% of Greek GDP – are aimed at supporting investment projects that promote sustainability and will contribute to its reconstruction. He pointed out that additional investments of 210 billion euros by 2027 will be required for the implementation of the objectives of the REPowerEU plan recently announced by the EU. to accelerate the green transition and investments in RES.

“We will maintain our leading role in the economy, supporting innovative companies to proceed with investments that will be included in Greece 2.0 and at the same time mobilizing private funds”, said Mr. Megalou, adding that “de-ligation, energy transition, green and the digital economy will be at the center. “Piraeus Bank supports sectors such as renewable energy sources, energy savings, responsible agriculture, which are crucial for the sustainable development of the Greek economy”, pointed out the CEO of Piraeus Bank.

Source: Capital

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