PM, EBRD chief discuss increasing bank’s RES sector involvement

Prime Minister Alexis Tsipras and the president of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti discussed the prospect of the bank’s increased involvement in the country’s RES sector, among various issues, at a meeting in Athens yesterday.

The Greek prime minister made note of the country’s economic recovery in progress and the objective to swiften growth rates of small and medium-sized enterprises. Tsipras also highlighted the Greek economy’s benefits as a result of the EBRD’s activities in Greece, noting the bank’s presence will contribute to an acceleration of economic growth.

Chakrabarti, the EBRD head, commended the government for putting the economy back into growth territory and boosting employment, while adding that the bank is determined to continue offering support.

The bank’s involvement will be stretched to 2025 for financial support to small and medium-sized enterprises, the sectors of tourism, real estate, green energy, agricultural food production, as well as investments for improved municipal services.

EBRD financial investments in Greece have reached 2.5 billion euros, making Greece Europe’s fifth highest recipient. A total of 600 million euros of EBRD financial investments are expected to be made in 2018.

During his visit to Greece, the EBRD president also noted the bank intends to establish a branch in Thessaloniki for business services to small and medium-sized enterprises.