12 billion euro in ‘green growth’ by 2015
Greece is looking to the environment as a way out of fiscal crisis
Wind farms will be looked at as a way of creating an environmental industry in Greece
Greece said on Wednesday it will invest 12 billion euros ($15.59 billion) on environmental and energy projects over the next five years.
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.
"The ministry hopes the programme will decisively contribute to face recession and lead to dynamic economic growth," Birbili said in a press release.
Most public investment under the plan, about 7 billion euros, is earmarked for urban facelifts such as new subways, parks and pedestrian areas in Athens, the country's congested and polluted capital.
The government expects private companies to invest a total 14 billion euros in energy projects, such as new natural gas pipelines and storage terminals in northern Greece. The government has already said it will take measures to attract a total 22 billion euros in energy investments. Greece has pledged to increase its renewable energy levels by 2020.
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