Sat, 4 October
15.1 C
Yerevan
USD: 382.76 RUB: 4.67 EUR: 449.25 GEL: 140.62 GBP: 514.85

European Investment bank begins immediate allocation of 750 million euros to Greek economy

YEREVAN, September 13. / ARKA /. The European Investment Bank began immediate allocation of up to 750 million euros ($966 million) to the crisis-hit Greek economy, RIA Novosti reported citing the Greek finance ministry.

The agreement was signed earlier Thursday by EIB president Werner Hoyer during a visit to Athens and the Greek Finance Minister Yannis Stournaras. The money will be invested in various sectors such as energy, education, transport and small businesses.

The ministry said small businesses will absorb about EUR440 million from the total package.
“This is an important movement that brings money into the real economy at a time when liquidity crunch has caused suffocation in the market,” Mr. Stournaras said.

In July, the Greek ministers of finance and development said the EIB would pump EUR1.4 billion in Greece by 2015. They have also announced that a guarantee fund for small and medium businesses, created in March, will be supplied with EUR600 million by next January. This sum will increase to EUR1.0 billion by December 2013 and to EUR1.44 billion by 2015. The EIB will also help Greece complete several highway projects whose construction has been suspended in recent months by private contractors. -0-

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img