Four investment proposals by the Environment & Energy Ministry of Greece, including two for new buses, was approved on Wednesday by the European Investment Bank.

Specifically, the European Union-affiliated financial institution approved two proposals for buses running on electricity and on hydrogen, a proposal for heat pumps in greenhouses, and one proposal for heat pumps in municipal swimming pools. The total of the investments, termed 'priority investments', amounts to 208 million euros.

As the Environment & Energy Ministry notes, the new electric buses and hydrogen buses will contribute to upgrading the public transportation fleet, replacing 150 old and polluting buses and improving citizens' daily lives. In addition, the proposals for the heat pumps relate to support plans that will be implemented through invitations to interested parties and will boost the primary sector's productivity process.

The final decision for the disbursement of the funds will be made on April 1 at the biannual conference of the Modernization Fund through a voting process among all Fund members.

The Modernization Fund is an EU program to support 13 member-states (Greece, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Portugal, Romania, Slovakia, Slovenia). Greece is represented in the Fund by the Environment & Energy Ministry. It expects its energy actions to be supported by the Fund with approximately 1.3-1.5 billion euros by 2030.

Minister Stavros Papastavrou said that the investment proposals, which were tabled by his predecessor Thodoros Skylakakis, "confirm the commitment of Kyriakos Mitsotakis' government for a comprehensive plan of key interventions in public transportation means."