Programme of financial assistance for municipalities in Greece from the European Investment Bank and the Loans and Consignments Fund

17.4.2014

Question for written answer E-005154-14
to the Commission
Rule 117
Georgios Papanikolaou (PPE)

A new joint venture has been agreed between the European Investment Bank and the Loans and Consignments Fund in Greece to fund municipal works under an assistance and development banner, even in over-indebted municipalities. Firstly, EUR 200 million will be apportioned for low interest-rate loans (3.32% variable and 5.26% fixed) with a 25-year term. The agreement also makes provision for special municipality welfare funding, even for the purpose of carrying out research studies in collaboration with PETA SA, the development company for central and local government in Greece. It should be noted that the Troika has prohibited economic independence observatories, which are an additional measure used to monitor economic activity in the municipalities of Greece, from being established by local authorities.

In view of the above, will the Commission say:

Is it in a position to advise me of the institutional framework of the agreement between the European Investment Bank and the Loans and Consignments Fund in Greece and whether or not the existing eligibility criteria may be changed to the detriment of the local authorities?

OJ C 426, 27/11/2014