The US Development Bank is exploring the possibilities provided by the European Energy Security and Diversification Act in order to invest in port infrastructure projects as well.
The energy role that Greece is called to play, in the light of the new geopolitical data formed by the Russian invasion of Ukraine, was mentioned by the chief climate officer of the US Development Bank (Development Finance Corporation – DFC). Mr. Jake Levine’s position was made during a hearing in the House Foreign Affairs Committee on “US Efforts to Support European Energy Security”.
During his speech, Mr. Levine referred to the energy role that Greece can play, saying that DFC’s investment interest is not limited to liquefied natural gas infrastructure, but also extends to renewable energy sources. As he pointed out, the US Development Bank is investigating the possibilities provided by the Law on European Energy Security and Diversification in order to to invest in port infrastructure projects as well. It is recalled that as the former US ambassador to Athens had previously stated, the US is interested in the ports of Igoumenitsa, Kavala and Volos.
The chief DFC climate official was asked by Republican MP Claudia Tenney about the role the US Development Bank is playing in supporting liquefied natural gas (LNG) projects in Europe, including Greece. The New York MP also referred to the fact that she had the opportunity to meet the Greek Prime Minister in the context of the contacts he had in Congress during his visit to Washington.
In response, Mr Levine noted: “We are working on these issues and we are excited about the role that Greece can play in the Eastern Mediterranean. If you saw the news yesterday there was a report of a recent deal for the supply of Israeli gas in cooperation with Egypt and European countries. And we believe that Greece can play a similar role in facilitating energy transactions and transportation through Greece and through the region. In a similar way we examine projects not only in the field of liquefied natural gas, but also in the field of clean energy. We work on electricity distribution network projects, wind and solar projects. “We are equally important in exploring the possibilities provided to us under the European Energy Security and Diversification Act to support port infrastructure projects that may be critical to energy infrastructure.”
The US Development Bank (IDFC)
DFC operates as a US development bank set up to act as a bulwark against China’s economic penetration through investments in third countries in order to increase its influence. Although the DFC charter allowed it to operate in the emerging markets of Asia, Latin America and Africa, in December 2019 an amendment was made, which paved the way for investing in developed markets such as Greece.
