Media coverage of EIB contracts in Greece
- Apr 24, 2012
Recent media reports have suggested that updated contracts currently being discussed with European Investment Bank clients are preparing for Greece to leave the Euro. This is completely wrong.
In line with best banking practice standard clauses that apply for all contracts signed by the European Investment Bank require Eurozone clients to repay loans in the same currency as disbursed, when in Euro, the Euro. These also apply to Greek companies and institutions.
The European Investment Bank is committed to supporting Greece and continues to give loans in large volumes in support of economically viable projects. Last year, the EIB provided a record two billion Euro for projects in Greece, demonstrating a firm conviction that Greece will meet all obligations. The EIB is contributing and will continue to support economic growth and job creation across the EU and with particular emphasis on Greece and other economically weak regions.