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EIF: 700 million euros for small businesses in Greece

EIF: 700 million euros for small businesses in Greece
The Investment Plan for Europe – the known as Juncker Plan – is supporting small businesses in Greece. Piraeus Bank will lend €700 million to SMEs in Greece thanks to an agreement signed today with the European Investment Bank (EIB), the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD).

This deal is backed by the Investment Plan's European Fund for Strategic Investments (EFSI). Commissioner Moscovici, responsible for Economic and Financial Affairs, Taxation and Customs, said: “Today's agreement with Piraeus Bank under the Juncker Plan means €700 million in new financing is now available for Greek SMEs. This will give a huge boost to the economy and it shows the Commission's continued commitment to supporting growth and development in Greece”

As of September 2017, operations approved under the European Fund for Strategic Investments (EFSI) are set to trigger €236.1 billion in total investment across the 28 Member States. The EIB estimates that by 2020 the Juncker Plan is set to increase EU GDP by 0.7% and create 700,000 jobs./IBNA

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