The European Investment Bank (EIB) on Thursday announced that it has agreed to provide 50 million euros to support financing by Pancretan Cooperative Bank towards eligible projects undertaken by small and medium sized enterprises and midcaps in Greece.
According to a EIB press release, the agreement comes within the framework of the “Loans for SMEs and MidCaps” program, and will "allow Pancretan to support projects implemented by small and medium sized enterprises and midcaps through investment loans and liquidity in the form of working capital.
“I am very pleased to be in Athens today to further extend the EIB’s ambitious new credit line for SMEs and Midcaps, which are a vital pillar of the Greek economy,” said Jonathan Taylor, European Investment Bank Vice-President responsible for lending in Greece.
EIB reminded that it launched a new credit line last December of up to one billion euros to Greek banks and signed agreements with the four systemic banks (Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank) for a total amount of 400 million euros.
