EIB to Start Loans in Greece in Coming Weeks, Naftemporiki Says

The European Investment Bank will start disbursing 1.44 billion euros ($1.74 billion) in loans to Greek firms in the coming weeks, Naftemporiki said, citing the lender’s vice president, Plutarchos Sakellaris.

The first loans will be for small and medium-sized businesses in the energy industry while the EIB will also sign deals for a total of 400 million euros with Public Power Corp. SA (PPC) and natural gas grid operator Desfa SA, the Athens-based newspaper cited Sakellaris as saying in an interview.

Greece and the EIB reached an agreement on July 21 for the bank to provide 1.44 billion euros in loans to Greek firms via the country’s banks by the end of 2015.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.