The European Bank for Reconstruction and Development has announced that it will begin investing in Greece, on a temporary basis, after having responded to the Greek government’s request, in order to support reforms and the return to growth.
According to the EBRD’s statement, the Bank will support investments in Greece until the end of 2020. The investments will support the reforms and contribute towards growth.
The EBRD will provide technical assistance and help attract foreign and domestic investors, in an effort to further strengthen the role of the private sectors. Specifically, the EBRD will help tackle the capital shortage that affects many private Greek businesses, especially the media.
The government spokesman Gabriel Sakellaridis commented that the Greek government is very pleased with the EBRD’s decision and pointed out that the goal is to attract long-term investments and to reduce the cost of lending for SMEs.
The President of the EBRD is expected in Athens later today to meet with Prime Minister Alexis Tsipras and discuss the details, so that the bank may begin its operations in Greece as soon as possible.
