The European Investment Bank (EIB) is ready to boost its support for small and medium-sized enterprises (SMEs) in Greece.
On the fringes of a conference on energy security, the EIB Vice-President Plutarchos Sakellaris stated in Athens today: “In view of the importance of EIB lending to small and medium-sized enterprises attached by Greek Prime Minister Costas Karamanlis and the other EU leaders at their regular autumn summit in Brussels last Thursday, we will step up our support for smaller companies also in Greece. The EIB is supporting the European economy and its financial system by granting loans to SMEs worth EUR 30bn throughout Europe. The EIB will use its capital strength to help counter the effects of the erosion of confidence in the financial sector”.
Up to 2011 and in partnership with commercial banks, the EIB will mobilise EUR 30bn for smaller companies in Europe, at the request of EU Finance Ministers in Nice last month. EUR 15bn will be made available in the period 2008-2009.
Background Information
“EIB loans for SMEs” combine the advantages of the EIB's first-rate access to world capital markets, where it raises most of the funds for its lending activity, with the local network and know-how of domestic partner banks.
In Greece the EIB has the following partner banks: