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Eurobank Plans More Than €1.3bn In Financing For Crete By 2028

by THEFUTURE.TEAM

June 9, 2026

Long-Term Investment Vision For Crete

Eurobank has announced plans to provide more than €1.3 billion in financing to projects and businesses in Crete between 2023 and 2028. The investment programme forms part of the bank’s broader strategy to support economic activity and development across the island.

Strategic Focus On Diverse Economic Sectors

The slated funding will support key sectors including tourism and hospitality, energy and infrastructure, construction and real estate, trade, manufacturing, and services. Eurobank’s initiative is designed to establish a resilient and sustainable production model across Crete, fostering both economic diversification and robust growth. This strategic investment mirrors trends seen in global markets where targeted financial support spurs regional innovation and stability.

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Strengthening Community And Infrastructure

Eurobank’s senior leadership will visit Crete from June 8 to June 10, 2026, for meetings with business representatives, local authorities and other stakeholders. The delegation will be led by Eurobank Chairman Giorgos P. Zanias and Chief Executive Officer Fokion Karavias, alongside senior executives from the bank. Meetings are scheduled across all regional units of Crete as part of discussions on investment opportunities and economic development priorities.

Commitment To Tourism And Sustainable Growth

Commenting on the initiative, Eurobank Chief Executive Officer Fokion Karavias described Crete as an economy with strong links between primary production, tourism and services. He noted that the island’s ability to promote local products internationally contributes to economic activity and supports the tourism sector.

Expanding Physical And Digital Footprint

Alongside financing initiatives, Eurobank plans to expand its presence on the island. The bank said it has supported projects worth €650 million during the past three years and is preparing to open a new Future Branch in Hersonissos. Major projects supported by the bank include the Northern Road Axis, the Crete-Attica electricity interconnection and the upgrade of Chania airport.

Looking Ahead

Eurobank expects additional investments exceeding €500 million by 2028. A special event scheduled for June 8 in Heraklion will feature Deputy Prime Minister Kostis Hatzidakis and Agapi Sbokou, Chair of the Board of the Greek Tourism Confederation (SETE), who will discuss Crete’s economic prospects and broader geopolitical developments. The bank’s Business Banking Tourism programme, now in its 16th year, has supported more than 65,000 small and medium-sized enterprises across Greece.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.