BUSINESS

Greece leads in EFSI fund absorption

TAGS: Finance

Greece has topped the European Union chart in activating investments in the context of the European Fund for Strategic Investments, dubbed the Juncker Plan, in proportion to its gross domestic product, according to data presented by the European Commission on Tuesday.

The country has benefited from funding amounting to 2.7 billion euros from the European Investment Bank, which is expected to activate total investments of 12.1 billion euros.

A total of 33 programs and agreements with small and medium-sized enterprises have been approved, and the number of corporations to benefit from the improved access to funding is seen reaching 25,820.

In total across the EU up until October 2019, the Juncker Plan is projected to have leveraged additional investments of 439.4 billion euros. More than 1 million startups and small enterprises are expected to benefit from improved access to funding, the Commission estimates. Some 70 percent of the investments to be mobilized come from private resources, which means that the Juncker Plan has fulfilled its target of leveraging private investments.

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