ECONOMY

Investment fund gets German and French help

The government is close to reaching a decision on the structure of the Greek investment fund and the financial sectors it will fund by priority. It is yet to decide on the source of the capital required, but it now appears that Germany and France will play some part in it.

German investment bank KfW and Agence France Tresor will contribute to the creation and financing of the fund, which is aimed at boosting growth in Greece, and their representatives are participating in a special committee set up for the fund’s foundation.

KfW’s director of business strategy, Lutz-Christian Funke, told an investment forum in Athens yesterday that the fund could operate like a small KfW, adjusted to the requirements of the Greek market and with the participation of local banks. He stressed that the model of project financing is ideal. Such bodies have already been formed in France, Portugal and Italy, Funke said.

Aris Syngros, chief of the Invest in Greece organization, stated that “the fund will be realized only when we have a clear funding plan that will offer security in the long term so that other sources of financing can join in.”