There has been an
increase in liquidity directed toward Greek enterprises through the Development Ministry's financing mechanisms, according to figures presented by the
Hellenic Bank Association to Development Minister Costis Hatzidakis during a meeting on May 28. Specifically, bank loans approved in April via new funding instruments amounted to €1.6 billion, posting a 10% increase from the previous month.
During the meeting, President of the Hellenic Bank Association, Giorgos Zannias, said that the data point to the fact that “the market is beginning to acquire a certain momentum.” A considerable part of the new disbursements is from the funds from the European Investment Bank and the
National Fund for Entrepreneurship and Growth (ETEAN). The banks have also said that by the
end of June, they will have signed contracts with the
Institution for Growth in Greece (IfG), which will refinance loans to small and medium-sized enterprises. HBA sources also predicted that the Greek economy would see positive growth rates from the second half of 2014.
