- August 31, 2017
- Posted by: Staff
- Category: Bank, Competitive research, Countries, Crisis, Economics, European Union
Greece and KfW each provide € 100 million. The funds will be sufficient to be accredited by Greek banks to small and medium-sized enterprises in Greece with the aim, to improve access to investment and operating loans facilitates the financing situation of small and medium-sized enterprises and sets a clear growth impetus
The first of three sub-funds of the Institution for Growth (IfG) was founded in Luxembourg on 7 May 2014 to support the Greek middle class. The Greek government and the KfW – on behalf of the Federal Government – provide this sub-fund with EUR 100 million in debt capital. This appropriation is intended to be used by small and medium-sized enterprises in Greece as loans through Greek transit banks. The IfG will thus facilitate the access of Greek SMEs to investment and operating resources and thus contribute to the recovery of the Greek economy.
The establishment of the first sub-fund is an important milestone. It is an essential prerequisite for the start of the operational phase of this project, which is supported by the Federal Ministry of Finance.
Several Greek banks have been informed about the project and their possible role as a sales partner in a first round.