EUROPEAN INVESTMENT BANK PROGRAMS IN GREECE, 2016
The European Investment Bank announced on 1.8.2016 than an agreement has been reached for a loan of 40 million € to back a lending initiative by Piraeus Bank in the form of investment loans, and extend liquidity providing competitive interest rates to small and medium size business (less than 250 employees and less than 50 million € in annual revenue or less than 43 million € total assets) or midcaps (250 up to 3.000 employees) which are operating or are about to invest in Greece.
This agreement incorporates EIB’s “Skills and Jobs – Investing for Youth” initiative, offering competitive interest rates to enterprises that promote youth employment (age 15-25 years) with specific programs (vocational training or educational mobility for young employees, contractual agreement with a technological or scientific institution aiming at youth employment or planning to hire within a six month period at least 1-5 young employees).
The new credit line agreed with Piraeus Bank represents the second partnership agreed by the European Investment Bank with a Greek bank (the first has been an agreement with the Pancretan Cooperative Bank) under the “Skills and Jobs – Investing for Youth” program, a Bank initiative for financing lending by local banks in countries where labour market conditions are particularly difficult for young people.
The full texts of the European Investment Bank announcements are published in the Bank’s website at:
as well as in the Bank of Piraeus website at:
Source: European Investment Bank
