Wednesday September 24, 2014 Search
Weather | Athens
33o C
20o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
IfG to issue first loans of 200 million euros to banks

By Evgenia Tzortzi

The newly formed Institution for Growth in Greece (IfG) development fund is next week set to sign contracts up to the amount of 200 million euros with three of the countrys four systemic lenders to begin refinancing loans to small and medium-sized enterprises (SMEs). Sources say that these banks are National, Eurobank and Piraeus.

The funds of 200 million that IfG will have at its disposal are the first to be disbursed from state resources through the Public Investments Program and the participation of Germanys KfW, which will allow for their flexible use toward refinancing companies.

The distribution per bank will be determined according to demand and will likely be exhausted.

The terms of the loans issued to the three systemic banks via the IfG are particularly favorable. The interest rate is expected to be around 2 percent, allowing for the refinancing of SMEs at a particularly low cost compared with current levels.

Banks will have to repay the resources lent to them by the IfG within seven to eight years. In the meantime they will only have to pay the interest.

ekathimerini.com , Wednesday Jul 9, 2014 (22:54)  
Task Force highlights the problems SMEs face
Concern over 329-mln-euro shortfall in state revenues
Rise in tourism arrivals dwarfs gains of regional rivals
OPAP set to be first past the post in race for betting permit
SYRIZA-affiliated Attica governor blocks employee evaluation
Newly installed Attica Governor Rena Dourou is on a collision course with the government after she won a vote on Tuesday calling for the regional authority not to cooperate with the evaluati...
DNA link to three suspects sought for Distomo raid
The fingerprints and DNA of three suspects being sought in connection with an audacious bank robbery in Distomo, in the prefecture of Viotia, in August have been found in an apartment in Nea...
Inside News
TRACK & FIELD
Inside the minds of four Spartathletes
Think you could run 246 kilometers on just figs, olives and dried meat? Well, Greek-American ultra-marathoner Dean Karnazes will attempt to do just that in this weekends Spartathlon race fr...
SOCCER
Santos appointed Portugal manager
Fernando Santos, who led Greece to the last 16 of the World Cup in Brazil, has been appointed Portugal's new head coach, the FPF announced on Tuesday. "Fernando Santos, 59, is the new nation...
Inside Sports
COMMENTARY
A painful curse
It was a curse and a painful one at that. It was a brutal act that brings shame on the person who committed it, on the party which he represents, on the Parliament, on Greece and on everythi...
EDITORIAL
Europes choice
Tuesdays meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel in Berlin is of crucial importance. Its hard to deny that Greece has come a long way. The ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Task Force highlights the problems SMEs face
2. Concern over 329-mln-euro shortfall in state revenues
3. Rise in tourism arrivals dwarfs gains of regional rivals
4. OPAP set to be first past the post in race for betting permit
5. Govt moves unilaterally on tax easing
6. SYRIZA-affiliated Attica governor blocks employee evaluation
more news
Today
This Week
1. Venizelos meets American Jewish officials in New York
2. Trolley bus, metro services to be disrupted Tuesday, Wednesday
3. Greek yields hit one-month high as Samaras looks to exit bailout
4. German bond gains push 10-Year yield below 1% on stimulus bets
5. Construction material costs for new residential buildings decrease
6. Supreme Court postpones decision on Finance Ministry cleaning staff
Today
This Week
1. Greece can meet its needs on its own
2. Greece at bottom of social justice scale among EU28
3. Record sum of new debts to the state in August
4. Alexander the Great's tomb not at Amphipolis, says Culture Minister
5. Lessons not learned
6. Loud patriotism
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.