Provopoulos urges banks to help healthy firms

Bank of Greece Governor Giorgos Provopoulos urged commercial lenders on Friday to proceed to the selective allocation of funding to healthy domains and enterprises so as to strengthen their competitiveness and support the country’s new, export-oriented production model.

In a meeting with the country’s top bank officials, Provopoulos further asked them to take initiatives to restructure enterprises and economic sectors, stressing that they should encourage business cooperations that will lead to stronger and more competitive units.

Regarding the role of lenders in the new environment, the central banker called on commercial banks to actively contribute to the economic recovery, saying that banks “can and ought to play the role of the catalyst in the restructuring of the other sectors of the economy” following the successful restructuring and recapitalization of the credit system.