BUSINESS

EBRD supplies credit line to Alpha and Eurobank

TAGS: Banking, Finance

The European Bank or Reconstruction and Development (EBRD) announced on Monday the supply of a credit line of 50 million euros to Greek lenders Alpha and Eurobank, aimed at promoting international trade.

The credit line, which forms part of the Trade Facilitation Program of the EBRD, will help boost the trade finance activities of the two domestic banks in the face of the adverse conditions in the local market, and bolster the EBRD’s central role as a partner of the Greek exporting and importing enterprises.

The EBRD has a small stake in both Greek lenders, obtained during their recent share capital increases.

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