Greece To Invest 12 Billion Euro In “Green Growth” By 2015
Greece said on Wednesday it will invest 12 billion euros ($15.59 billion) on environmental and energy projects over the next five years to boost its ailing economy and create new jobs.
The projects, ranging from renewables to town planning, may attract an additional 32 billion euros of private funds and create 192,000 jobs, Environment Minister Tina Birbili said.
Greece needs to spur economic growth to fight rising unemployment and generate revenues to help pay down its debt mountain after 2012, when a 110 billion euro bailout it has obtained from the EU and the IMF expires.
"The ministry hopes the programme will decisively contribute to face recession and lead to dynamic economic growth," Birbili said in a press release.