Friday, March 23, 2012
A funding agreement was signed in Athens on March 21, concerning to the creation of a Guarantee Fund dedicated to enhance lending to small and medium-sized enterprises (SMEs). The Fund is a joint initiative of the Hellenic Republic, the European Commission and the European Investment Bank. Established by using € 500 million from unabsorbed Structural Funds for Greece, it will guarantee EIB loans to SMEs through partner banks in Greece, reaching the total sum of €1 billion.
The agreement was signed by Anna Diamantopoulou, Minister of Development, Competitiveness & Shipping, and, on behalf of the EIB, by Vice-President Plutarchos Sakellaris, in the presence of the EU Commissioner for Regional Policy, Johannes Hahn.
"Greece has made significant steps forward but there’s a long road ahead to exit the recession tunnel despite the fact we can see light ahead," said Hahn, adding that "Greeks can count on the European Commission and on me personally." Diamantopoulou stated it is a national necessity that banks prioritize the disbursement of funds earmarked to supporting SMEs.
Greek News Agenda: EIB-Investing €158 million in Urban Projects
