Yannis Tsakiris, Vice President of the European Investment Bank (EIB), stresses the need to support Greek businesses for better access to finance.

In particular, on the occasion of the recent signing of agreements by the EIB with the four systemic banks in the framework of a new cooperation in the form of a €700 million guarantee program to support mid-cap companies in Greece, Mr. Tsakiris said that "access to liquidity remains equally important; Greek companies need better access to finance on favourable terms. This will help them to continue to invest and be competitive, ensuring that they will be able to continue to create jobs in the future. Once again, the EIB stands ready to support them."

"The favorable financing conditions under this new initiative are specifically designed to alleviate the economic pressures faced by Greek enterprises," emphasizes the Greek Vice President of the European Investment Bank. By reducing the cost of capital, we are not only helping their immediate recovery after the pandemic but also enhancing their long-term growth prospects."

"With banks' access to funding now fully restored, the EIB is turning to other instruments, such as guarantees, to support the real economy. By providing coverage for potential credit losses and capital relief on guaranteed funds, guarantees can help encourage greater credit risk-taking and increase banks' lending capacity for the benefit of Greek businesses."

Referring to Greece's four systemic banks, Mr. Tsakiris, speaking to Athens News Agency, said that they play a crucial role in this initiative, using the guarantees provided by the EIB to channel capital to Greek companies on more favourable terms. Their strong networks and deep understanding of the local business environment ensure that finance reaches the businesses that need it most efficiently and effectively. We believe that this initiative is a testament to the EIB's role in promoting economic stability and growth in Greece and throughout Europe. By supporting Greek mid-cap companies, we are helping to safeguard jobs, boost economic activity, and promote a resilient economic environment in Greece.

Mr. Tsakiris said that the EIB is committed to continuing to support Greece's economic development. This is one of the many measures we are taking to promote a prosperous, sustainable, and competitive future for all businesses within the EU. We look forward to seeing the positive results that this cooperation will bring to the Greek economy.