The Ministers of Finances Yannis Stournaras and Growth Kostis Hatzidakis will meet with the executive vice president of the German investment bank KfW Lutz-Christian Funke in order to sign an agreement for the German bank’s participation in the Greek investment fund (Institution for Growth – IfG).
This fund will support small and medium-sized businesses in Greece with funds, loans, guarantees and other credit tools, as part of the coalition government’s recovery and growth plans. According to the deal agreed upon in July 2013, KfW will invest 100 million euros in the IfG, which must be established by the 30th of June.
Aside from KfW’s 100 million euros, the Greek state will provide 350 million euros, the Onassis Institute a further 30 million euros, while France’s loan and deposits fund is currently considering whether to participate. The European Investment Bank had initially committed 50 million euros to the IfG, however the relevant procedures have delayed.
