Greece and EBRD Sign Memorandum of Understanding to Manage Loans from EU Recovery Fund | greece, economy

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ATHENS – Greece and the EBRD on Monday signed a Memorandum of Understanding (MoU) to administer the European Bank for Reconstruction and Development € 1.0 billion of loans to finance private investment in Greece through the Recovery Fund.

The Memorandum of Understanding was signed by Deputy Finance Minister Theodore Skalakakis and Charlotte Rouche, Managing Director for Central and Southeast Europe. This is the second such agreement signed between the Ministry of Finance following an agreement with the European Investment Bank (EIB) to manage 5 billion euros of loans. Today’s agreement signals the rapid launch of a loan program to generate significant private investment in Greece, the Finance Ministry said in a statement.

Skalakakis said these new investments will contribute to the country’s transition to a green and digital economy and help achieve higher growth rates, creating new jobs in the coming years.

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