The European Investment Bank has given Greece a €130m ($168m) loan to be put towards energy security and efficiency.

The loan was handed to the Greek Public Power Company and is destined for state-of-the-art, environment-friendly energy production at the new Megalopolis natural gas-fired, combined cycle power plant in the central Peloponnese.

It is a follow up loan for the power plant, bringing total European Investment Bank finance for the project to €280m.

The bank’s vice-president Dario Scannapieco said: “We are committed to supporting Greece. Now is the time to work together to restore the growth that can only come from viable infrastructure and dynamic enterprises that harness innovation and advance opportunity”